The main support is near the $9,300 area. Therefore, a downside break and close below the $9,300 support might push the price further lower. The next support is near $9,125, below which there is a risk of more losses below the $9,000 handle.
On the upside, there are many hurdles near the $9,500, $9,600 and $9,650 levels. Additionally, there is a connecting bearish trend line forming with resistance near $9,500 on the hourly chart of the BTC/USD pair. The key resistance is near the $9,650 level and the 100 hourly SMA. If there is a successful break above $9,600 and a follow through above $9,700, the price could start a solid upward move.
Looking at the chart, bitcoin price is likely to start a slow and steady recovery above $9,600 and $9,700 as long as there is no bearish break below the $9,300 support level. In the bullish scenario, the price may perhaps recover towards the $10,000 and $10,200 resistance levels.