After incurring a massive influx of buying pressure that sent Bitcoin (BTC) to nearly $14,000 yesterday, the cryptocurrency has plummeted lower and is now struggling to find support in the upper-$10,000 region.<\/p>\n
This massive volatility has led many investors to question whether or not $13,800 was a long-term top for BTC, but analysts are now noting that this could be the perfect time to increase exposure to the cryptocurrency, as it may continue its journey upwards in the near future.<\/p>\n
At the time of writing, Bitcoin<\/a> is trading down nearly 20% at its current price<\/a> of $10,715, down significantly from its recent highs of just below $14,000.<\/p>\n While zooming out and looking at Bitcoin\u2019s short-term price action, it is clear that the cryptocurrency is still in a firm uptrend despite today\u2019s drop, as it is up significantly from its one-month lows of $7,500.<\/p>\n While keeping this in mind, today\u2019s drop<\/a> seems rather insignificant, but it does certainly signal that the cryptocurrency is not ready to journey back up to its previously established all-time-highs, and further consolidation may be necessary before it once again breaks into the $20,000 region.<\/p>\n Trading Room, a popular cryptocurrency analyst on Twitter, recently noted that the lower-$10,000 region seems like a good place to increase one\u2019s BTC holdings, with a short-term target of nearly $14,000.<\/p>\n \u201cAdding #Bitcoin Longs in investment portfolio. 9750-10450 Zone. Targeting $13950. No stops for now, will re-assess if we close below 9500 in weekly candle. (Not suitable for Leverage Trading),\u201d they explained in a recent tweet.<\/p><\/blockquote>\n Adding #Bitcoin<\/a> Longs in investment portfolio<\/p>\n 9750-10450 Zone<\/p>\n Targeting $13950<\/p>\n No stops for now, will re-assess if we close below 9500 in weekly candle<\/p>\n (Not suitable for Leverage Trading)$BTC<\/a> #Crypto<\/a><\/p>\n — Trading Room (@tradingroomapp) June 27, 2019<\/a><\/p><\/blockquote>\n\n