Bitcoin Could See a Notable Correction Before Uptrend Continues

It’s no secret that Bitcoin has been caught within a firm bull trend throughout 2020, and yesterday’s rally to over $10,000 seemed to suggest that this uptrend has reached a boiling point, with a major parabolic movement looming on the horizon.

It is important to note that BTC has not yet incurred any type of significant correction throughout its rapid rise over the past several days, and analysts are now noting that it may dip to $9,400 before it continues its uptrend.

Bitcoin’s Rally is Strong, but a Major Correction May Ensue

At the time of writing, Bitcoin is trading up just under 3% at its current price of $10,060, which marks a notable climb from daily lows of roughly $9,700 that were set prior to yesterday evening’s major rally.

BTC’s ability to push past the resistance that existed between $9,800 and $10,000 was certainly a bullish sign, and its ability to subsequently hold above $10,000 overnight further supports the idea that bulls have incredible…