Bitcoin Price Analysis: Bitcoin Sits Over $10,100 After Smashing the Historic Resistance
After revolving around its key resistance level of $9500 for some time, the top digital currency Bitcoin (BTC) has finally managed to enter into the $10,000 zone. After gaining over $500 during the last night, the price value of Bitcoin surged above the psychological level of $10,000 and is currently up 6.07% trading above the $10,100 mark.
Bitcoin price was at around $9700 yesterday evening and suddenly started moving in the upward direction and it went as high as $10,360. Bitcoin price gained +7.10% during this upsurge. Though bitcoin price has slightly come down from this mark it has managed to hold itself above the $10,100 figure as the below-given BTC-USD chart shows:
Bitcoin Breaks above the historic resistance
After breaking above the key resistance of $9500, Bitcoin was facing a historic resistance ahead in the form of the $10K level. This historical resistance level has been broken as the leading digital coin has managed to pass through the $10,000 barrier.
Bitcoin price is trading in the bullish zone as BTC bulls are strongly holding it there. Although, the value of the token is trading greenish there is likely a chance that Bitcoin may dive down before going up to start a bullish rally as a lot of traders are expecting it to do so. If Bitcoin bulls continue to hold it above $10K, then the price can touch $10,500 in the coming days. If it happens then $10,500 can provide strong support for Bitcoin and may lead it to $11K zone in the near future.
Key Resistance and Support levels for Bitcoin
The followings are the key resistance and support level for Bitcoin:
Resistance Level (R1): 10418.63
Resistance Level (R2): 10668.87
Resistance Level (R3): 11152.33
Support Level (S1): 9684.933
Support Level (S2): 9201.467
Support Level (S3): 8951.233
Bitcoin current Price Value
At the press time, the price value of Bitcoin is trading at $10,126.34 USD with a change rate of 5.99% in 24 hours.
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