Having faced a sudden influx of selling pressure yesterday, Bitcoin bulls were able to defend their position within the mid-10,000-dollar region, pushing BTC to the next key resistance level of $ 10,400.
Assuming that this level is breached, it is possible that the next bull target will be $ 10,800, where the crypto-dad has previously encountered significant resistance.
Bitcoin climbs toward $ 10,400
At the moment, Bitcoin trades at $ 10,350 and again presses against its immediate resistance level of $ 10,400, where it has always found selling pressure in recent days.
Bitcoin bulls, however, seem to be gaining strength as the cryptocurrency number has responded particularly bullishly to any decline below $ 10,200 over the past 24 hours - and the odds are now good that it's going well beyond $ 10,400.
Analysts and investors are watching to see if BTC is able to maintain a move above $ 10,400 - because the next big drag region is around $ 10,800.
The popular cryptocurrency analyst The Cryptomist writes on Twitter: She has already expected the current upward momentum - due to the relatively weak drop yesterday:
"$ BTC: THE LACK OF VOLATILEM DROP FROM THE HEAVY WEDGE BREAK WAS EXACTLY THE REASON WHY I WAS CAREFUL. RENEWAL TEST OF THE WEDGE, WHICH IS ALREADY REJECTED. THE SYM TRIANGLE HAS NOW MADE (SECOND PICTURE). AWARDED A DECISIVE PAUSE OF 24 HOURS ", WRITE IT.
BTC builds strength during the morning trading session
Bitcoin was able to build some strength this morning, approaching its resistance of $ 10,400 - and that could lead to an expansion of its upward momentum.
With Chonis Trading, another popular cryptanalyst on Twitter shares his thoughts on Bitcoin's recent price action: He notes that BTC is starting to build strength.
"$ BTC - FAN AT SOME MORE" STRENGTH "TO SEE HERE AS #BITCOIN CONTINUES TO FIND STABILITY IN THE LOW $ 10KS .... ALTS BEGIN TO MAKE BITCOINS STABILITY AT RANGING UNABLE ", SO CHONIS.
Over the next few days, the direction of the crypto trend is likely to shift in the coming months as any key break above $ 10,800 could trigger a major uptrend.
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