RATE Group | Bitcoin rally faces first test as it nears $10k and key test of long-term trend line
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Bitcoin rally faces first test as it nears $10k and key test of long-term trend line

04 May Bitcoin rally faces first test as it nears $10k and key test of long-term trend line

Posted at 15:32h in Bitcoin News by

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After a fruitful four weeks for owners of digital currencies, which has seen the total value of all coins climb 72% to $460 billion, one analyst has suggested owners need to take stock as the No. 1 digital currency enters a crucial level.

Bitcoin, which accounts for 36.1% of all coins, has closed in on resistance ahead of $10,000 and it’s 200-day moving average-a closely watched gauge of momentum for technical traders—reaching an intraday high of $9,790.94.

“Bitcoin continues holding above $9k and so far things look good. But there comes a point where holding these levels goes from being resilient,…

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