Markets Technical Analysis

Can Bitcoin Break Past $10,000 Once Again?

By Valdrin Tahiri
Updated by Kyle Baird
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In Brief

  • The Bitcoin price has created a new lower-high.

  • The price broke down from a short-term ascending support line and there is minor resistance at $9,600.

  • Bitcoin has possibly begun the 'C' wave of an A-B-C formation.

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Can Bitcoin Break Past $10,000 Once Again?
The Bitcoin price has broken down from an important support area and is in the process of validating it as resistance. If the price gets rejected, it could signal the beginning of a corrective period. The Bitcoin price had an eventful day with considerable volatility on May 14. The price reached a high of $9,939, dropped to $9,511 in one of the biggest one-minute candlesticks in recent
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Valdrin Tahiri
Valdrin Tahiri

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.

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