Bitcoin traders are closely monitoring the rapidly approaching $ 9,900 resistance. A break above this level at the beginning of the week could mean testing local peaks. A move to this level occurred immediately after retesting the $ 9,300 support over the weekend. This uptrend is a positive sign that the bulls are largely in control of the Bitcoin price.
Attention May Shift to Cryptocoins
The new week has started calm, but price movements may appear as the key resistance level approaches. In particular, if the $ 9,900 attempt fails and Bitcoin continues to trade in the current range, attention will shift to cryptocoins.
While Bitcoin continues to trade around mid 9,000, traders have begun dealing with cryptocoins. And current favorites include Cryptocoins like Cardano, Etheruem, Tron, Tezos, Chainlink and Crypto.com.
The reasons for the rise were clear for Cardano and Ethereum, the release of Shelley Mainnet and Ethereum 2.0 triggered two cryptocurrencies. Now he is trying to participate in the race at Tron.
Tron CEO Justin Sun recently announced that Tron 4.0 will be available in about a month. The announcement increased the value of the digital asset by more than 5%, causing it to beat Monero in the ranking, making it 16th. It features many improvements and improvements, such as Tron upgrade, security and privacy.
Eyes in Bitcoin (BTC)
So even if the cryptocoin season doesn’t start fully, investors are slowly shifting to cryptocoins. But the eyes are still on Bitcoin. Bitcoin must allow this for no dead cryptocoin season.
Also, some new data showed that miners started “hodling” last week. If Bitcoin goes above $ 10,000 again, miners seem to have an important role in maintaining this level.