Bitcoin $10,000 resistance broken

Bitcoin Breaks Through $10,000 Resistance: Here’s What Happens Next

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After testing $10,000 multiple times over the last three weeks, Bitcoin finally broke through this key level of resistance before dropping back down to the $9,500 range after a whale dump.

Technical analysts predicted that BTC would break to the upside for many reasons:

  • Above 20-day EMA
  • Golden cross on daily chart
  • RSI between 55-75
  • MACD golden cross
  • Above 20 week EMA
  • Golden & Bullish cross on weekly MACD
  • We have moved past the Bitcoin Halvening

What May Happen Over Next Few Weeks

Bitcoin has rallied to between $10,000 and $10,500 over the last year. If we break through that resistance level, then we may break through $11,000 and the previous high of over $12,000 in the past year. Historically, there has been a lot of trading volume at $11,000. Psychologically, it’s a number with three zeros. Furthermore, the more recent bear market shows a possible high of around $14,700. This may happen if we see a return of volume and volatility.

Of note, institutional investors appear to have shorted the stock market. Projections are in the range of a 15-20% dump. If that happens, then investors may want to put their money into crypto and precious metals.

Also keep in mind that USDT has been inflated, without backing those Tether with USD. Many BTC traders will move their funds in and out of USDT, which could have the net effect of inflating BTC, too.

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