RATE Group | Bitcoin is About to Start a Fresh Macro Bull Cycle Once It Captures Key Level
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Bitcoin is About to Start a Fresh Macro Bull Cycle Once It Captures Key Level

09 May Bitcoin is About to Start a Fresh Macro Bull Cycle Once It Captures Key Level

Posted at 03:22h in Bitcoin News by

  • Bitcoin has been able to maintain the bulk of the gains that came about during yesterday’s intense upswing
  • Buyers are still struggling to firmly surmount the key $10,000 region, however, as it appears that bears have established heavy resistance here
  • The cryptocurrency could still be on the cusp of entering a macro bull-cycle, and one analyst is noting that the key level that needs to be shattered exists just above BTC’s current price

Bitcoin has seen some noteworthy price action throughout the past several days and weeks. The crypto’s rally seems to have reached a boiling point yesterday, when it rapidly rose from the lower-$9,000 region to highs of over $10,000.

Buyers have since been able to maintain the cryptocurrency’s position within the upper-$9,000 region, although it does appear that $10,000 is becoming a heavy resistance level.

It is important to note that one analyst believes that Bitcoin is just a hair away from breaking above a key trendline that could…

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