Now, less than 24 hours after Bitcoin price breaches $10,000, it’s already broken through $11,000 and shows no signs of stopping. What’s next for Bitcoin price and are new all-time highs right around the corner? Or are there more barriers for the cryptocurrency ahead?
BTC Is Unstoppable: Smashes $10K and $11K, Where Does it Go Next?
Last night, just before the daily candle closed, Bitcoin price breached important psychological resistance at $10,000 that during the last market cycle acted as a major “FOMO trigger” according to crypto bull Tom Lee. Hours later, it was already at $10,500, and now, within 24 hours from breaking $10,000 it has already reclaimed $11,000 and may have only just begun its further bullish uptrend.
Related Reading | Tom Lee: Bitcoin Price Nearing FOMO Trigger, BTC To Trade Between $20K and $40K
Rounded numbers always play important resistance levels, as many orders tend to cluster around them, making each $1,000 increment and more significant numbers like $15,000 and $20,000 the next major resistance levels needing breaking before new all-time highs are set. Last time broke above $10,000, less than a month later it had already hit $20,000, and could hint at the speed and fury at which Bitcoin may climb once again now that this “FOMO trigger” has been breached.
Bitcoin Price: One More Target Before Bull Run Can Begin
Although there are rounded numbers like $15,000 and $20,000 ahead, there is one other critical resistance point that needs to be broken for the bull run to begin: $11,700.
Related Reading | Bull Market Not Confirmed Until Bitcoin Price Breaks Above $11.7K Where Bear Market Began
Should Bitcoin break above $11,700, it could trigger a full blown bull run in the asset and set new highs in no time. The last time $10,000 was broken, Bitcoin reached $20,000 less than a month later. If such a trajectory is repeated, $11,700 will fall any day as Bitcoin price is now trading at $11,150 at the time of this writing.Featured image from Shutterstock
