{"id":414311,"date":"2020-02-12T11:00:14","date_gmt":"2020-02-12T11:00:14","guid":{"rendered":"https:\/\/wncen.com\/?p=414311"},"modified":"2024-06-11T10:35:59","modified_gmt":"2024-06-11T10:35:59","slug":"bitcoin-vertical-price-passes-crucial-10000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-vertical-price-passes-crucial-10000\/","title":{"rendered":"Bitcoin Could Go Vertical as Price Explodes Past Crucial Resistance at $10,000"},"content":{"rendered":"

Over the past day, Bitcoin has done extremely well; case in point: per data from CoinMarketCap<\/a>, the price of the leading cryptocurrency has surged 5% higher to $10,300 over the past 24 hours, reaching as high as $10,500 on the back of an influx of buying pressure.<\/p>\n

While some are fearful<\/a> that the steep uptrend BTC has exhibited over recent weeks is a precursor to a deep retracement,<\/a> a top analyst noted that prices just surmounted an extremely key downtrend, boding well for the long-term bullish argument.<\/p>\n

Related Reading: Ethereum Explodes 15% Higher to $250 in 1 Day: Are More Gains Imminent?<\/a><\/h6>\n

Bitcoin Surges Past Key Resistance<\/strong><\/h2>\n

Analyst CryptoBull noted<\/a> that with BTC’s latest price action, the price of the cryptocurrency has, for the first time ever, broken above a downtrend that has constrained prices since the $20,000 top seen in December 2017.<\/p>\n

The downtrend, which currently sits at $10,000, rejected Bitcoin multiple times in 2019’s mini-bull market, acting as the point at which the rally stopped on at least two distinct occasions.<\/p>\n

The fact that Bitcoin is now past this key resistance, the analyst who pointed it out wrote, is a sign that “short liquidations are coming” and a potential sign that the “biggest weekly green candle in Bitcoin’s history” is right on the horizon.<\/p>\n

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Short liquidations are coming pic.twitter.com\/Wjo6Sns1dV<\/a><\/p>\n

— Crypto\u0e3full (@CryptoBull) February 12, 2020<\/a><\/p><\/blockquote>\n