RATE Group | Bitcoin Price Stabilizing Above $10K With $11.6K Futures Gap in Sight
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Bitcoin Price Stabilizing Above $10K With $11.6K Futures Gap in Sight

15 Feb Bitcoin Price Stabilizing Above $10K With $11.6K Futures Gap in Sight

Posted at 14:29h in Bitcoin News by

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The price of Bitcoin (BTC) broke the psychological barrier of $10,000 and is currently stabilizing above it. Not only Bitcoin has been showing strength, but altcoins have also been popping left and right. Is the bullish momentum back in the market? Let’s analyze the charts.

Crypto market daily performance. Source: Coin360

Crypto market daily performance. Source: Coin360

Bitcoin price hovering below a significant resistance

The price of Bitcoin broke the psychological barrier of $10,000. However, the price is facing significant resistance: the $10,400 level. A breakthrough in this zone could make the price move towards $11,000 and higher.

BTC USDT 1-day chart. Source: TradingView

BTC USDT 1-day chart. Source: TradingView

However, would such a move be natural in the current market environment?

Bitcoin went from $6,900 to $10,400 in six weeks. Some consolidation would not be unhealthy for the market, as that would give the market some space to accumulate and generate strength for further upward momentum.

Investors should keep in mind that retracements will be very short-lived….

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