$BTC aiming for the key resistance at $10,000
Updated
Key levels
Short term
Supports—> S1: 9350 & S2: 8900
Resistances—> R1: 9750 & R2: 10000
Medium/Long term
Supports—> S3: 8300 & S4: 7600
Resistances—> R3: 10200 & R4: 10400
Potential scenario
Bitcoin is leading the whole crypto market to a bull run that can be historical. The community is highlighting the importance of the level $10,000 as the breaking point where the crypto capitalisation will increase exponentially and will aim for the all-time high, $20,000. The $10,000 breakout might take some time since it is a very strong resistance, however, its breakout is very likely to be made with significantly high volume levels.
TA comment
In the current bullish scenario, in order to automate our strategy and profit from further increases, indicators that will quickly open positions, such as fast moving averages or momentum indicators , can be highly beneficial if the price increases sharply. Once the bull run is less intense, adding more filters to your strategy could be more profitable.
Pattern
The Bitcoin price is continuously breaking yearly highs and making new records. These resistances are very often broken with a lot of volume and small wicks. This type of candle is called Morubozu bullish, a bullish pattern in an upward market represented by one candle. This one has a long body and short, or none, wicks with an upward movement.
Short term
Supports—> S1: 9350 & S2: 8900
Resistances—> R1: 9750 & R2: 10000
Medium/Long term
Supports—> S3: 8300 & S4: 7600
Resistances—> R3: 10200 & R4: 10400
Potential scenario
Bitcoin is leading the whole crypto market to a bull run that can be historical. The community is highlighting the importance of the level $10,000 as the breaking point where the crypto capitalisation will increase exponentially and will aim for the all-time high, $20,000. The $10,000 breakout might take some time since it is a very strong resistance, however, its breakout is very likely to be made with significantly high volume levels.
TA comment
In the current bullish scenario, in order to automate our strategy and profit from further increases, indicators that will quickly open positions, such as fast moving averages or momentum indicators , can be highly beneficial if the price increases sharply. Once the bull run is less intense, adding more filters to your strategy could be more profitable.
Pattern
The Bitcoin price is continuously breaking yearly highs and making new records. These resistances are very often broken with a lot of volume and small wicks. This type of candle is called Morubozu bullish, a bullish pattern in an upward market represented by one candle. This one has a long body and short, or none, wicks with an upward movement.
Note
Progress: BTC broke heavily $10,000. Now eyes on $11,500.
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