Omkar Godbole is the market reporter for CoinDesk, the global leader in blockchain news, where he produces technical chart-based price updates on Bitcoin and other alternative currencies.
Bitcoin's recovery to $10,255 seen in the last 24 hours could be short-lived, suggest bearish price and volume indicators.
Bitcoin's defense of the 100-day price average and a bullish RSI divergence on the hourly chart call for a minor price bounce to $10,300.
Prices fell 10.18 percent last week and closed at $194, the first under-$200 weekly close since mid-May.
Bitcoin may fall back to recent lows below $9,500, having strengthened the short-term bearish case with a $700 drop earlier today.
Having faced rejection near $11,000 earlier today, bitcoin is looking weak and may end up falling below $10,000 in the next 24 hours.
Bitcoin has gained $1,000 since the Bakkt exchange announced it has the green light to offer bitcoin futures, but key resistance still lies ahead.
Bitcoin has bounced from key price support, but the outlook remains bearish as long as prices hold below Thursday's high of $10,445.
Bitcoin is looking south, having retraced more than 50 percent of the $3,000 rally seen in the 10 days to Aug. 6.
XRP is flashing red this Tuesday morning with a long-term price indicator turning bearish for the first time in over a year.
Bitcoin now needs to break above $13,200 to revive the stalled bull market, a key monthly chart pattern suggests.