Only yesterday Bitcoin bulls were triumphant that the king of crypto had broken resistance and was heading for five figures again. A few hours ago BTC made it to $10k but it didn’t just stop and hold there. A surge of over 10% took Bitcoin to over $10,900 during the Asian trading session this morning.
As reported by Bitcoinist yesterday, the likelihood of BTC reaching $10k within the next 24 hours was strong. A few hours ago Bitcoin lifted off from around $9,900 to surge 10%, or a thousand dollars, in just a couple of hours. According to Tradingview.com it topped out at $10,900, its highest price since March 2018. At the time of writing the hourly candle had yet to close and BTC was trading at 00.
Daily volume has cranked up to $23 billion as Bitcoin market cap approached $200 billion. The epic move has reduced the gap to all-time high to 45.5%. Additionally BTC dominance is now over 59% as the altcoins get eaten alive.
PSYCHOLOGICAL AND TECHNICAL RESISTANCE OBLITERATED
Now that both psychological and technical resistance at $10k has been smashed, traders and analysts are scouring the charts for the next resting point for BTC. This appears to be around $11,700 and there is not much but thin air from there all the way up to $16k.
Josh Rager, who noted yesterday that there may be a fair bit of profit taking once BTC hit $10k, has changed his tune a little today adding:
“If you like $BTC at $10k than you’re really going to love when BTC closes above $11,700… And resumes running through every resistance in its path to new all-time highs.