BITCOIN (BTC) ANALYSIS: THE BATTLE FOR $10,000 HAS FULLY STARTED

After a very impressive increase in Bitcoin (BTC) towards the $ 10,000 at the start of this year, we are seeing strong reactions around this level. With a lot of volume and large orders, bears are starting to defend the $ 10,000. Because of this, it seems that for the optimistic bulls, there is no longer an easy road to the top. After a lot of resistance and rejection, the price seems to hold up reasonably well at around $ 9,600. An important support as resistance. If this does not last, it does not seem impossible that the price will again fall below $ 9,000. Since reaching $ 10,000 at the start of this month, the rate makes it difficult with breaking a major resistance around $ 10,500. After testing this resistance several times, the price had a big blow. With the fall of $ 1,000 within a candle towards $ 9,000, the $ 10,000 break seems to be further away. Although the price seems to be holding up strongly at the moment, just below a major resistance of $ 9,600. Breaking this can again cause a push upwards. Looking at the Bitcoin daily chart, we see the strong reaction to not breaking $ 10,500, with a eventually small recovery. Looking back, we see that this level around $ 9,600 in November 2019 was a very strong but also a difficult point for the rate. This resistance did not break back then and caused a major setback and fall towards $ 6,000. It is a very important level in the short term for the course. Source: BITCOIN magazine NL