Over the past week, BTC has faced some resistance around its current price levels, but its latest move upwards seems to confirm that the crypto’s bulls are once again ready to begin pushing its price significantly higher.
Assuming that Bitcoin begins forming a fresh upwards in the near-term, it is highly probable that its next strong level of resistance exists at or around $10,000, as this is an important psychological price level that, if broken above, could mark the start of a full-fledged bull market.
If the next leg upwards does send BTC to the five-figure price region, it will be important that it breaks above $11,700, which would likely send it skyrocketing higher.
Josh Rager, a popular crypto analyst on Twitter, spoke about the importance of this price level in a recent tweet, saying:
$BTC - Where must Bitcoin cross to thrust price to new highs?— Josh Rager 📈 (@Josh_Rager) 2019年6月20日
That level is close above $11,700
Minimal resistance between $14k to $16k won't be enough to stop BTC
Bullish sentiment & greed will propel price action to new highs & accumulating under $11,700 will be key, imo pic.twitter.com/vi502VEpcO