Categories: Cryptocurrency

Bitcoin at critical point with breakout above five figures


Bitcoin has smashed through previous levels of resistance with a surge in the US$10,000 [AU$14,746] zone today. The asset is nearing critical levels which will confirm a major trend reversal if broken.

Bitcoin has surged to a three-month high during Asian trading today, topping out at $10,400 according to Tradingview.

The move has added almost nine percent on the day to BTC prices, the majority of it in one big green hourly candle a couple of hours ago.

Trader and analyst Josh Rager commented that a close above $10,370 would be “insanely bullish.”

The previous high was around $10,500 and until this level is broken, BTC markets are still in a downtrend. It is crucial that the bulls step up this time and take prices higher to confirm a two-year trend reversal.

Since the big pump, BTC has pulled back to the $10,100 area so the next few hours will be critical.

The move has lifted total crypto market capitalization to its highest level since late February at around $283 billion.

Featured image courtesy of Aleksi Räisä/Unsplash

Martin Young

Martin has been writing on technology for 15 years, he has a keen eye for emerging cryptocurrency news, blockchain developments, and market sentiment.

Published by
Martin Young

Recent Posts

Henry Cavill hints secret ‘Mass Effect’ project

Henry Cavill is at it again, as he hints another upcoming project. From what it…

32 mins ago

Bioware cancels ‘Anthem NEXT’, reboot plans

Bioware has now given up on Anthem NEXT, their sequel to their tragic live-service game…

1 hour ago

‘Days Gone’ PC is now live on Steam

The Days Gone PC listing is now live on Steam, serving as the second Playstation…

7 hours ago