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.
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