Bitcoin Price Analysis: Bitcoin Breaks $10,000 in Stunning Fashion

Bitcoin Price Analysis: Bitcoin Breaks $10,000 in Stunning Fashion 1

[youtube https://www.youtube.com/watch?v=eJsrlTBDG9U?enablejsapi=1&origin=https%3A%2F%2Fbitcoinmagazine.com&widgetid=1&w=640&h=360]

Price Analysis Summary:

  1. The bitcoin market blasted straight through the $10,000 price range in a rally that had bitcoin price testing the lower $11,000s before any meaningful selling took place. This rally was fueled by deeply underwater short positions that were liquidated and/or forced to close.
  2. We are currently sitting above a major milestone on the monthly level of $10,300 and a weekly milestone of $9,900. The weekly candle closes tomorrow. If we can close above these levels, that would be a majorly bullish statement. From there, we are likely to begin a new trading range on the macro market structure.
  3. If we fail to hold the monthly level at $10,300, we are likely to retest the weekly breakout at the $9,600 levels.

Trading and investing in digital assets like bitcoin is highly speculative and comes with many risks. This price analysis is for informational purposes and should not be considered investment advice. Statements and financial information on Bitcoin Magazine and BTC Inc sites do not necessarily reflect the opinion of BTC Inc. They should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

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CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin23,779 0.68 % 3.21 % 3.15 %
Ethereum1,827.1 0.36 % 8.73 % 11.52 %
Tether1.001 0.07 % 0.09 % 0.15 %
BNB330.27 0.80 % 2.87 % 15.94 %
USD Coin1.000 0.05 % 0.09 % 0.16 %
XRP0.3772 0.26 % 3.34 % 1.37 %
Cardano0.5323 0.59 % 4.00 % 6.47 %
Binance USD0.9971 0.32 % 0.44 % 0.27 %
Solana42.12 0.56 % 2.22 % 3.81 %
Polkadot9.560 0.57 % 8.96 % 19.64 %

bitcoin
Bitcoin (BTC) $ 23,906.00
ethereum
Ethereum (ETH) $ 1,835.18
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 332.21
usd-coin
USD Coin (USDC) $ 1.00
xrp
XRP (XRP) $ 0.378928
cardano
Cardano (ADA) $ 0.534749
binance-usd
Binance USD (BUSD) $ 1.00
solana
Solana (SOL) $ 42.03
polkadot
Polkadot (DOT) $ 9.60