$ 10,000 Again, Again…
Bitcoin managed to earn the $ 9,500 level after the price went above $ 9,000. It was already known by the nature of the Bitcoin price that the price that went above $ 9,000 once again after the collapse of the weekend would see $ 9,500. Another known fact is that the price that sees this level will see the $ 10,000 level. The curiosity is whether it can maintain that level… The current situation of the market has a slow moving upward trend, which shows that the bears do not have the power to resist this increase. However, bulls who see the $ 9,500 level need to increase their energy in order to earn $ 10,000. Let’s take a look, starting from the eyes of the channels and the big picture, parallel to the general situation of the market.
The weekly chart has a structure that confirms the positive trend of the market. With the price in the downtrend succeeding to get out of the parallel channel, the impression of the downtrend is now coming to an end. Seeing the $ 9,500 level with this break, marked by the green arrow, the next trip will continue on the blue channel between $ 10,000 and $ 11,600. We know that the price, which has seen the $ 10,000 level in the recent past, has experienced sharp withdrawals. In order to avoid the same retreat again, the price has to be kept above the $ 11,600 level. We will see that the price held at this level will see the $ 12,000 level, which will be mentioned below, and that the bulls will fight their existing powers to maintain this level. The next will be the new records of this year.
The daily chart shows us that the bulls are gaining strength and the price is in an upward trend. Breaking the resistance formed in the middle line in the parallel channel, confirms the movement of the price towards the upper band, while facing another important resistance that should exceed after $ 10,000. $ 10,300 level. Again, we can see that the price is rapidly returning from this level in the recent past. For this reason, it is of great importance to maintain the $ 10,300 level after the middle band is exceeded. Maintaining the $ 10,300 level will open a smooth path to $ 12,000.
In this process, where the positive effect of halving will also be experienced, it is a detail that should be followed closely whether the price will make the upward trend quickly or will it be slow as it did when reaching the level of $ 9,500. However, the fact that the price quickly withdrew with the reaction it saw from the $ 10,000 level is another important detail that should not be forgotten.
Finally, I would like to state that you should consider this article of Tuğay KAYNAR, which was published in the Koin Bulletin.