- Things were looking up after the leading crypto breached $10,000 but in typical bitcoin fashion, it wasn’t able to hold the support.
- The coin was trading sideways for a significant amount of time yesterday and that was a big indicator that the bulls didn't keep up above the key resistance level.
Things were looking up yesterday after the leading cryptocurrency breached $10,000 and seemingly rose up to $10,500 on some exchanges but in typical bitcoin fashion, it wasn’t able to hold the support.
The flagship coin was trading sideways for a significant amount of time yesterday and that was a big indicator that the crypto bulls in the space didn't have enough strength to keep up above the key resistance level.
Currently trading just above the $9500 mark at the time of writing, the crash wasn’t as bad as previous attempts to break the five figure price range.
Before we go any further though, it’s worth saying that we aren’t financial investors and this isn’t financial advice. Please do your own research before putting your money in a cryptocurrency and always remember to trade safe!
For the past month or so, bitcoin has attempted to break the $10,000 level several times and only yesterday was it able to succeed in its attempt. Even though it is no longer above that price level, it’s still a positive notion that BTC is able to reach such a height once more.
The bullish momentum has been able to defend the 12-EMA but it is still all a bit up in the air as to whether they will be able to recover after the fourth rejected attempt at breaking $10,000.