RATE Group | Bitcoin has to pass the $10,500 level before going to rally, here’s why
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Bitcoin has to pass the $10,500 level before going to rally, here’s why

31 May Bitcoin has to pass the $10,500 level before going to rally, here’s why

Posted at 21:53h in Cryptocurrency News by

  • Analysts agree that Bitcoin’s price has to exceed the important level of $10,500 before going to a rally.
  • Bitcoin has failed to break this level in recent weeks, breaking it could lead to a strong upward trend. 

After weeks of stagnation, Bitcoin has showed signs of recovery and is heading towards a major resistance level. Analysts seem to agree that the cryptocurrency has to break the resistance at $10,500 before there is any talk of an upward trend. After several weeks of being rejected before going above that level, Bitcoin dropped to $8,700 on May 23 before returning to the $9,000 range again.

At the time of publication, Bitcoin stood at $9,566 and showed a slight gain of 0.64% in the last 24 hours. In the weekly and monthly charts, the cryptocurrency is showing gains of 4.19% and 10.97%

Why is $10,500 the most important level for Bitcoin?

Despite the recovery, analysts agree that Bitcoin is at a crossroad. Based on the behavior of the last few weeks, the cryptocurrency could…

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