CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$27,014.00
  • ethereum
    ETH$1,887.95
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    • Opinions
    CryptoPotato
    CryptoPotato
    • Crypto News
    • Margin Trading
    • Guides
      • Bitcoin & Crypto Guides 101
      • Bitcoin For Beginners
      • Editorials
    • DeFi & NFT
    • Buy
    • Language
    • Crypto News
    • Bitcoin For Beginners
    • Cryptocurrency Guides 101
    • Editorials
    • Bitcoin & Crypto Margin Trading
    • DeFi & NFT News
    • Bitcoin Price Analysis
    • CryptoPotato Crypto Fund
    • Ethereum (ETH) Price Analysis
    • Ripple (XRP) Price Analysis
    • Market Updates
    • Interviews
    • Buy Bitcoin with Card
    Home » BTC » Bitcoin Price Analysis: Another Failed Attempt At $10K, But Will BTC Finally Break-Up Today?

    Bitcoin Price Analysis: Another Failed Attempt At $10K, But Will BTC Finally Break-Up Today?

    Author: Yuval Gov

    Last Updated Jun 11, 2020 @ 06:03

    Quick recap: since May 7, 2020, which was a few days before the recent halving event, Bitcoin had been trying to breach the $10,000 benchmark level for several times.

    All of those ended up as failed attempts. The most serious attempt took place during the first day of June, as Bitcoin surged to the 2020 high at $10,500 but quickly retraced no more than 24 hours after.

    Yesterday, on our previous BTC price analysis, we mentioned that Bitcoin’s mid-term symmetrical triangle is coming to its apex, and a decision is soon to be made (2-3 days).

    The past days we saw Bitcoin trading inside the range of $9600 – $9800, and yesterday Bitcoin reached a high of $10,011 on Bitstamp, but couldn’t persist. Since then, Bitcoin is trading safely between the next range of $9800 – $10,000. As mentioned yesterday, this range is also full of sellers’ demand chunks.

    Breakout – A Matter of Time?

    The more attempts to break a resistance line, the higher the chances it will actually break-up. What we see with the $10,000 is an endless psychological battle.

    Even during November 2017, when Bitcoin broke the 5-digit level for the first time, it was easier and quicker than in 2020. In my opinion, there is a remarkably high chance of seeing it happening today.

    Aside from the price, in order to hold the 5-digit mark, we will have to see a decent volume of buyers, which is not yet here, along with a breakup reflected by the RSI indicator (which is also indecisive over the past week).

    Key Support and Resistance Levels

    Now, as Bitcoin’s trading range between $9800 and $10,000, the first crucial support is the $9800 level, followed by the blue ascending trend-line on the daily chart (currently around $9670). Further below lies $9600, and $9400.

    From above, the first resistance level is the $10,000, followed by $10,200 and the 2020 high at $10,500. The latter is even more critical level than the $10K itself. Bitcoin reached the 2020 top twice so far – mid-February before the COVID19 crisis, and on the first day of this month – June 2020.

    Total Market Cap: $281 billion

    Bitcoin Market Cap: $182 billion

    BTC Dominance Index: 64.8%

    *Data by CoinGecko

    BTC/USD BitStamp 4-Hour Chart

    btc_jun11_4h-min

    BTC/USD BitStamp 1-Day Chart

    btc_jun11_d-min

     

    SPECIAL OFFER (Sponsored)
    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.


    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

    Cryptocurrency charts by TradingView.
    Tags: Bitcoin (BTC) Price
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    Yuval Gov
    More posts by this author

    Yuval Gov has over 15 years of trading experience in the stock exchange, graduated from TAU - Economics and Management. Fell in love with the crypto space. Does Crossfit to get away from FOMO. Contact Yuval: LinkedIn

  • bitcoin
    BTC$27,014.00
  • ethereum
    ETH$1,887.95
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    Editorials
    The Weaknesses of Ethereum VS Modern Blockchains: Interview With Radix

    The Weaknesses of Ethereum VS Modern Blockchains: Interview With Radix

    Institutions Intend to Buy Bitcoin in Late 2023: Interview With CryptoQuant

    Institutions Intend to Buy Bitcoin in Late 2023: Interview With CryptoQuant

    Why Didn’t ETH Dump After Shanghai? Interview With Nansen

    Why Didn’t ETH Dump After Shanghai? Interview With Nansen

    What is PEPE Coin? Is This the Next Huge Memecoin?

    What is PEPE Coin? Is This the Next Huge Memecoin?

    What is the Ethereum Shanghai (Shapella) Upgrade? Everything You Need to Know

    What is the Ethereum Shanghai (Shapella) Upgrade? Everything You Need to Know

    15 Months Later, What Changed Since November 2021? Interview With Phantom Wallet CEO

    15 Months Later, What Changed Since November 2021? Interview With Phantom Wallet CEO

    Artificial Intelligence & Crypto Guide: Here Are the Top 5 AI Coins

    Artificial Intelligence & Crypto Guide: Here Are the Top 5 AI Coins

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    Footer Logo
    About
    Advertise on CryptoPotato
    About Us | Contact Us | Careers
    Editorial Policy
    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!