Bitcoin corrected lower sharply from the $10,500 resistance against the US Dollar. However, BTC is still above the key $9,800 support and it could soon rally again.

After trading to a new 2020 high, bitcoin price corrected lower from $10,507 against the US Dollar.
The price declined below the $10,200 and $10,000 support levels.
There is a key bullish trend line forming with support near $9,800 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
The pair is well supported above $9,800 and the 100 simple moving average (4-hours).
Bitcoin Could Rally Again
This past week, bitcoin maintained a bullish bias above the $10,300 area against the US Dollar. BTC price extended its rally towards the $10,500 level and settled above the 100 simple moving average (4-hours).

Finally, the price traded to a new 2020 high at $10,507 before starting a downside correction. It seems like the price made a couple of attempts to gain pace above $10,500, but the bulls failed.

As a result, there was a bearish reaction below the $10,400 and $10,300 levels. Besides, the price declined below the $10,200 support area. More importantly, there was a spike below the $10,000 support area.