Why Is Bitcoin Having A Hard Time Cracking Past $10,000?

Why Is Bitcoin Having A Hard Time Cracking Past $10,000?
фото показано с : zycrypto.com

2020-2-26 21:08

Bitcoin has been rejected several times from the mythical $10,000 level. This resistance level is definitely one of the most important levels for Bitcoin, technically and psychologically. The last time Bitcoin attempted a break above $10,000 was back in October 2019 when the digital asset peaked at $10,370 and crashed shortly after. Bitcoin was only able to stay above $10,000 for a few hours before an extended downtrend to $6,435.

A week ago, Bitcoin looked quite strong and remained above $10,000 for a few days but bull strength was slowly shifting away as the digital asset started to look weaker after 3 days of sideways trading around the $10,370 resistance. The bulls have attempted to break above $10,000 a few times again now as the price has just been rejected from $9,500 today.

What Bitcoin Fundamentals Could Help Its Price?

There are definitely a few fundamental factors that could boost Bitcoin above $10,000 again. For instance, the recent Coronavirus outbreak has actually been positively impacting cryptocurrencies as people are looking for safe havens. It’s important to note that the virus is also affecting a lot of people in China where most Bitcoin mining facilities are currently located.

Additionally, the upcoming Bitcoin halving could also be a positive factor in the near future as many experts believe that it is still not priced in.

Key Bitcoin Resistances

Looking at the 4-hour chart, Bitcoin was able to set an uptrend after the recent 6% crash and it’s still currently holding it. The bulls are fighting to defend $9,000, a crucial level that if broken, would give bears the 4-hour chart downtrend. Bitcoin is now facing resistance at $9,350 and a double top at $9,490 which is basically $9,500.

Zooming out, however, Bitcoin is still looking extremely strong. The weekly chart is definitely in an uptrend and this recent Bitcoin mini-crash has changed nothing. BTC is currently trading above both EMA’s and it’s simply looking to set a higher low compared to $6,871. The bulls will look at the 12-period EMA as support if the 4-hour chart breaks bearish.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 95282.86 (+0.31%)
Объем 24H $42.781b
Изменеия 24h: -1.89 %, 7d: -8.27 %
Cегодня L: $94782.14 - H: $95637.28
Капитализация $1886.584b Rank 1
Цена в час новости $ 9279.79 (926.78%)

bitcoin level time october 2019 above attempted

Источник: zycrypto.com

bitcoin level → Результатов: 126


Where Is Bitcoin Headed in May? Expert Points to Key Resistance Level That Must Break For Continued BTC Price Surge

Bitcoin has regained its position above the $60,000 mark, and this upward movement has sparked conversations about the possibility of Bitcoin surpassing the $65,000 resistance level soon.   YG Crypto, a cryptocurrency analyst, also recognizes this bullish trajectory, and he views it as a significant signal for bullish traders.

2024-5-5 19:15


Bitcoin Price Analysis: Is A Retracement To $25,000 Likely?

Despite the relative performance of altcoins in 2023, Bitcoin has seen a significant 75% bullish rally since the beginning of the year. However, Bitcoin’s price has been unable to surpass the resistance level of $30,000 for a week, and this has stirred a technical belief that there is a possibility of a retracement streak toward the medium-term support level of $25,000.

2023-4-23 12:24


Crypto Market Tanks: Bitcoin Correlation with S&P 500 Reaches 2021 High & USD Longs at Highest Level since June 2019

In the past 24 hours, 417,654 traders were liquidated for $2.58 billion, with Binance leading at 28% of its share despite underreporting, and now, CME is leading Bitcoin OI at $3.72 bln. The post Crypto Market Tanks: Bitcoin Correlation with S&P 500 Reaches 2021 High & USD Longs at Highest Level since June 2019 first appeared on BitcoinExchangeGuide.

2021-12-4 16:46


Additional Money Is Coming into Bitcoin as Capitulation Period Ends and Hash Rate Climbs to Early June Level

Breaking above $50k, Bitcoin price has recovered from the $29,760 low in July. As of writing, BTC/USD is trading around $47,500, about 26.7% down from its peak four months back. Just like price, other data metrics suggest that the leading cryptocurrency is on a path to recovery after the market-wide sell-off just three months ago […] The post Additional Money Is Coming into Bitcoin as Capitulation Period Ends and Hash Rate Climbs to Early June Level first appeared on BitcoinExchangeGuide.

2021-8-25 17:23


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Addresses Drop by 211K Amid Market Uncertainty: Could a Rally Be Next?

Wallets holding Bitcoin are now declining in number, while those that hold the meme-based Dogecoin appear to be increasing in number. Bitcoin’s ecosystem is experiencing waves of doubt. According to fresh data from analytics company Santiment, there has been a decline of more than 211,000 non-empty Bitcoin addresses in three weeks alone, which has sparked […]