Reasons why Bitcoin cannot break through $ 10,000

Since Bitcoin fell below $ 20,000 in 2017, the five-digit figure has been a huge resistance level for Bitcoin.

Breaking through this price point is temporary, and the price usually falls without holding for long.

Experts believe that the integration of Bitcoin at this price will not persist for too long, and it will not be long before Bitcoin will continue to sprint at the price of $ 10,000.

Bitcoin is at a critical integration stage

Bitcoin’s current price is $ 9770, and its daily decline is less than 1%. This price point only appeared after the recent failure to sprint $ 10,000 from $ 9,400.

In the past few weeks, the price of Bitcoin has been in the integration stage, and neither the bulls nor the bears have formed a clear advantage.

Judging from the current trend, the current downturn has resulted in a huge ascending triangle. Such data will cause Bitcoin to have huge fluctuations in the next few days or weeks.

An options trader recently talked about the current trend as a bullish pattern and explained that he believes that the price of Bitcoin will soon exceed $ 10,400.

He said: Bitcoin is currently on the rise, and the first target is $ 10,433. As long as there is not much resistance at the price of 10085.5, it will continue to rise in the short term.


Bitcoin will soon break through $ 10,000

If the current ascending triangle will continue to push up the price of Bitcoin, then Bitcoin will have a huge increase in the next step.

Another trader said on Twitter that the current key resistance is at $ 9,850.

He pointed out that if the current resistance level is exceeded, there will be huge room for upside.

He explained when referring to the table below: “Green is all that prevents us from printing the $ 1,000 green candle imo.”


He analyzed through the trend chart that the current trend of the triangle model is the only factor that determines the future trend of Bitcoin.

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