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Bitcoin Price Analysis: Above $10,000, Hits Highest Since October

Bitcoin Price Analysis: Above $10,000, Hits Highest Since October

Today, bitcoin consumers rallied costs to $10,175 on Coinbase – the best stage since Oct. 26. The rally has paused round $10,100 as of writing. 

The RSI is pointing increased towards 80, highlighting the power of the upward momentum. 

D1 chart

Looking on the day by day chart, we discover that there’s little resistance on the way in which towards the October 26 excessive of $10,540. An in depth above that stage might persuade extra consumers to enter the market, inflicting a stronger transfer towards subsequent resistance at $10,939 (September 6 excessive). 

On the flip aspect, any shut beneath Saturday’s low of $9,654 might trigger consumers to exit the market, pushing the costs to deeper assist ranges. 

4H chart

The earlier 4H interval closed with a doji candle, reflecting market’s indecision. Alongside that, the RSI has topped out above 70, signaling overstretched situations. 

Thus, a minor downward transfer could also be seen earlier than additional positive aspects towards $10,500. The doji candle would turn out to be invalid if costs rise above $10,150.

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