Yesterday, we saw a nice upward move in BTC, Ethereum and ripple against the US Dollar. The bulls gained traction and pushed bitcoin above the $10,400 and $10,500 resistance levels.
At the moment, there is a contracting triangle forming with support near $10,450 on the same chart. In the short term, the price could decline towards the $10,450 and $10,400 support levels. As long as the price is above $10,400, there could be another rise towards the $10,800 resistance level.
Conversely, if the price fails to stay above the $10,400 support, it could extend its correction. The next key support is near the $10,200 level, plus the 1.236 Fib extension level of the upward move from the $10,296 low to $10,790 high. The main support is near the $10,000 level, which is also close to the 100 hourly simple moving average.