BTC making another run at $10k - Is this one for real?
BTC is making another run at $10k, is this one going to break through?
Bitcoin has now tested the $10k level a total of 5 times, this being the 5th time.
(I am counting a few that just got awfully close to $10k before being turned away)
And that is just since the March 12th lows!
Bitcoin tested that $10k level a few times before the big pandemic dip as well.
Here we are again, giving it another go as I type...
(Source: https://bittrex.com/Market/Index?MarketName=USD-BTC)
Will this finally be THE ONE?
Will this finally be the move that busts through that $10k resistance level and never looks back?
I can't say for certain at this point, but we do seem to be making higher lows along the way...
With every dip not going quite as low as the previous dip(s).
Plus traditionally, each time price tests a resistance level, that level gets weaker and weaker as sellers run out of coins to sell.
Going off of that, one would assume that with every touch/test we are getting closer and closer to finally breaking through.
It is interesting to me that stocks continue to go up day after day while bitcoin is struggling to break out.
That may be a sign bitcoin's rally from the lows is running out of steam...
We will likely find out in the next couple days as bitcoin is getting very close to breaking through that $10k level or making a lower low... which would likely indicate a change in trend.
Stay informed my friends.
-Doc
Looks like this could be it. Very strong resistance but the bulls always stand up again to test it one more time.
I wonder, if it will bounce back heavily from the 10.5k level. Maybe we've finished building the support zone around 10k that we need to hold the level in case of a push back.
Yea to me it looks like we are just chewing through the supply at $10k. The dips are getting smaller and smaller on the $10k rejections. To me it looks like things are compressing before a massive break through of $10k at which point those shorting and selling at that level flip around and jump on the long side...
Looking at the charts on multiple exchanges, it's not going to break through yet...
With each attempt, that $10k level gets just a little bit weaker...
If the volume at and above $10k was very low, then the market has a lot of time to strengthen the resistance...
Looking like we might be starting that dip to $7.6k...
At least dip to about $8.3k would be expected...