Bitcoin Gets Rejected Once More by $10,500 Resistance

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In Brief
  • The Bitcoin price was rejected sharply by the $10,500 resistance area.

  • The price has generated a considerable bearish divergence in the daily RSI.

  • If the price breaks down from the current ascending support line, it could decrease all the way to $6200-$7000.

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On June 1, the Bitcoin (BTC) price broke out from a pattern that had been in place for nearly one month and proceeded to reach a high of $10,380. While this is a very bullish development, the price has yet to move above a crucial resistance area that will likely determine the direction of the long-term trend. Cryptocurrency trader @CryptoCapo_ tweeted a chart saying that in order for the

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Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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