Is Bitcoin rejecting the $10k level?
Bitcoin has been making some exciting price moves over the last month or so. Will it continue?
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Bitcoin at $10k?
As I mentioned in my video from a few days ago, Where is Bitcoin headed from here?, Bitcoin needs to break through the psychological barrier of $10k in order to continue it's run upward.
Today Bitcoin took a bounce downward from $10k. Let's take a look.
As you can see, Bitcoin took a quick bounce down from it's $10k levels, and has even dropped below it's primary trend line established during this month long run up.
Will Bitcoin move higher past $10k?
This is yet to be seen and is impossible to predict. We know these markets are extremely volatile and anything can happen. Right now we see it still lingering around it's trend line. If it stays close to this line and keep moving in a positive direction, it may retest $10k and possibly break through.
How should I take action?
It goes without saying that any advice I give should be taken with a grain of salt. I have my own personal strategies and goals in mind for myself and can't necessarily give advice specific to each individual investor.
With all of this being said, I personally am waiting until Bitcoin makes a successful move above $10k. This should get traders and investors excited about crypto again and move Bitcoin up to it's next resistance level of $11,700 (make it $12k).
Keep an eye on this market. I'm waiting for some validation here.
Thanks for reading guys. You are the reason I share my ideas. I greatly appreciate the support.
Disclaimer: I am not a financial advisor. The articles that I write are for educational purposes only. Do your own research and hold yourself accountable for the investments that you choose to make.
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Bitcoin just off $10k mark as bulls fuel more upside ... or is this a bull trap in the making. BTC must break and hold the 10k level....
Agreed. I'm very weary of bull traps during a crypto bear market. They tend to be very unforgiving.
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