Bitcoin has broken back above five figures again as the short lived correction appears to have abated. Analysts have weighed in on the next move for BTC, which way will it go?
Crypto markets in general have pumped over the past 24 hours adding $15 billion from intraday lows to top out at $295 billion during early trading in Asia. The next few hours will be crucial in determining whether the rally is real or the correction will resume.
Bitcoin Back Over $10k
Since then bitcoin has ranged between $10,200 and $10,100 and it has to hold this level to prevent another return south.
Analysts that are leaning bullish are eyeing the $10,800 and above area as the next resistance level.
$BTC Daily Chart update.
So far, so good on the symmetry move.
— CryptoFibonacci (@CryptoFib) February 19, 2020
A golden cross has also been talked about recently which is also a major bullish indicator for longer term trend reversal. Bitcoin has been in an uptrend for seven weeks now so that momentum could continue, especially as the halving approaches.
Analyst ‘Crypto Rand’ acknowledged the fabled technical signal adding;
“The last time it played out for Bitcoin,