Bitcoin Must Hold $10,500
The importance of $10,500 to Bitcoin should not be understated. This level marked highs for BTC’s rallies on three distinct occasions over the past 12 months: October’s “President Xi Pump,” the February rally from 2019 lows, and the top of the rally from March’s capitulation lows.
With such a storied history, all analysts are eyeing $10,500 as a level Bitcoin must hold above to confirm the ongoing bullish breakout.
The trader who predicted BTC would fall to the $3,000s a few months before it did shared this chart below just hours ago.
Referencing how the asset failing to break $10,500 could confirm a bearish distribution, he wrote:
Bitcoin does seem to be decisively taking that level for now. As of this article’s writing, the asset is trading at $10,725, and is surging higher as bulls continue to flood in.
Featured Image from Shutterstock Price tags: xbtusd, btcusd, btcusdt Charts from TradingView.com Bitcoin Price Pierces the Ultimate $10,500 Level: Will Bulls Manage to Hold?
Originally from Bitcoinist.com https://ift.tt/333nfBp
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