Bitcoin bulls target a new goal to the $10,800 price level after facing a sudden influx of selling pressure yesterday but they managed to defend its position as we are about to read more in the coming altcoin news below.
Assuming that the levels are broken, it is possible that the bitcoin bulls target the $10,800 which is where the crypto previously has found some major resistance. At the time of writing, Bitcoin is trading at a current price of $10,350 and it is once again pushing up against the immediate resistance level of $10,400 which is where it has consistently found selling pressure in the past few days. Bitcoin’s bulls do appear that they are gaining strength but the cryptocurrency has bullishly responded to every dip below ,200 over the past 24-hours and it seems like now there is a decent chance that it will decisively break above ,400.
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The analysts and investors will be closely watching to see whether Bitcoin is able to sustain a move above $10,400 because the next resistance level lies at $10,800. The popular crypto analyst on Twitter, The Cryptomist stated about bitcoin in a recent tweet that she anticipated this current upwards momentum mainly because of the relative weakness of the drop that happened yesterday:
”The lack of volatile drop from yesterday wedge break was exactly why I was cautious. Re-test of wedge currently rejected. Sym triangle has now formed (second image). Expecting decisive break by 24 hours.’’
This morning, Bitcoin has been able to build some more strength as it nears at the resistance level of $10,400 which could be followed through by an extension of the upward momentum. Another popular crypto analyst on twitter Chronis Trading, shared his thoughts on BTC’s current price action saying that it is starting to build some strength:
“Starting to see some more ‘strength’ here as #bitcoin continues to find stability in the low $10K’s… Alts starting to take advantage of bitcoins ranging stability.’’
As per the reports in the latest cryptocurrency news, the weekend ahead will prove to be quite illuminating for which direction the entire crypto trend will shift in the upcoming months as any decisive break above $10,800 could start a huge uptrend.
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