Key PointsBitcoin price declined this past week and moved below the $10,000 level against the US Dollar. There was a break below a major bullish trend line with support at $10,350 on the 4-hours chart of the BTC/USD pair (data feed from SimpleFX). The pair must stay above the $9,300 and $9,000 support levels to avoid further declines in the near term. Bitcoin price is under pressure below the $10,000 level against the US Dollar. BTC/USD remains at a risk of more declines if the pair fails to hold the $9,000 support. Bitcoin Price ResistanceThis past week, there was an increase in bearish pressure on bitcoin price from the $10,800 swing high against the US Dollar. The price started a downside move and traded below the $10,500 support level. There was also a break below the 23.6% Fib retracement level of the last wave from the $8,250 low to $11,650 high. Moreover, there was a break below a major bullish trend line with support at $10,350 on the 4-hours chart of the BTC/USD pair. The pair traded towards the $9,400 support and declined below the 100 simple moving average (4-hours). More importantly, there was a break below the 50% Fib retracement level of the last wave from the $8,250 low to $11,650 high. It has opened the doors for more losses below $10,000. On the downside, the $9,350 support is holding losses and is preventing declines. Should there be a break below $9,350, the price may even decline below the $9,000 level. An intermediate support is near the 76.4% Fib retracement level of the last wave from the $8,250 low to $11,650 high. On the upside, a break above the $10,000 resistance is needed for the price to move back in the bullish zone. Looking at the technical indicators: 4-hours MACD – The MACD for BTC/USD is currently in the bearish zone.4-hours RSI (Relative Strength Index) – The RSI is currently well below the 50 level. Major Support Level – $9,350Major Resistance Level – $10,000 Charts courtesy – SimpleFX Bitcoin Price Weekly Analysis – Can BTC/USD Hold $9,000? was last modified: March 31st, 2018 by Aayush Jindal