Crypto analysts are gauging whether Bitcoin has the momentum to keep rising after pushing above $10,000.
Josh Rager says Bitcoin may be on a path to retesting its weekly open at $10,854. If BTC can’t rise above that number, he says the leading crypto will retest support around $9,600 and likely hit a lower-low.
Fellow analyst Crypto Michaël says he doesn’t think Bitcoin has the momentum to break $10,300.
“I’m still sticking behind the thoughts that we’ve got to make some more movements downwards.
Move upwards didn’t have much volume and I don’t think we’ll break $10,300 area. If we do and flip support + break downtrend, then I’m a bull.”
Bitcoin jumped from $9,626 to a high of $10,154 today, before retreating back to around $10,000.
Right now, Bitcoin is up 3.70% at $9,995 according to COIN360. Ethereum is up 5.01% at $221.57, XRP is up 0.97% at $0.3153 and Litecoin is up 2.02% at $94.22.
Analysts at large are tracking Bitcoin’s chances of gaining traction above $10,000 with the overall market mostly in the green.
NewsBTC – Bitcoin breaks key resistance but can it continue higher?
FXStreet – Critical resistance of $11,000 is still out of reach
Crypto Daily – Ethereum likely topped out after recent bullish move
NewsBTC – XRP/USD starts fresh increase
Coin Rivet – LTC consolidation momentum likely to continue[the_ad id="42537"] [the_ad id="42536"]