Bitcoin Briefly Moves Above $10,000 – What’s Next?

Share Article
In Brief
  • The Bitcoin price has moved above a long-term descending resistance line.

  • There is resistance between $10,300-$10,400 and at $12,000.

  • The price is following an ascending support line that previously acted as resistance.

  • promo

    Stake your points and qualify for the 200,000 USDT prize pool. Start staking now!

The Trust Project is an international consortium of news organizations building standards of transparency.
On May 7, the Bitcoin price created a bullish engulfing candlestick, increasing by more than $1,000 throughout the day. This caused the price to move above a descending resistance line that had been in place since December 2017. The breakout occurred with significant volume, but not particularly extraordinary. The price is approaching the next resistance area, found between
×

BeInCrypto Premium - Register for FREE now.

BeInCrypto Premium - Register for FREE now.

Upgrade to continue reading

Register Now!
Sponsored
Share Article

Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.

Follow Author

Limited offer! Learn to mine and trade crypto today for free

Join

Earn up to $10,000 USD every week in CoinFLEX AMM+ Arena!

Earn Now

Be our Supreme Scorer and qualify for a grand prize pool of 200,000 USDT!

Join