Bitcoin Breaks Above $10,000 Convincingly

September 3, 2019 12:16 AM UTC

We talked about the real possibility of Bitcoin breaking above $10k here.

The bulls have done it, as expected, they actually smashed through the $10k resistance with a pretty big daily candlestick of around 6% gains.

The bulls were able to break above both EMA’s as well as the $10k level with a lot of volume behind them. Clearly the daily trend is looking for a change and bulls are really close to confirm it, the next resistance lies at $10,604 which is really close to the actual price of $10,369.

The most important step for the bulls now is to see some continuation after a healthy pullback. The 4-hour chart looks extremely healthy and favorable for the bulls, they couldn’t ask for a better chart, really.

They were able to cross above both EMA’s followed by a bullish cross of the EMA’s, then a huge candlestick followed by another big candlestick, all with increasing bull volume. The only resistance for the bulls right now is the overextended RSI, they need to see a healthy pullback soon.

On the weekly, the bulls managed yet again to keep the price above the 12-day EMA and they are trying to confirm a higher low at $9,320 which would be the lowest low of the weekly Equilibrium Pattern.

 

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