Bitcoin price has been consolidating for over a week now, holding on to gains above $9k while the world’s stock markets get the jitters in the wake of the Coronavirus outbreak. Five figure BTC could be just around the corner and here is why.
Bitcoin price has remained range bound for another day extending the consolidation period to a week. Since January 28 BTC has oscillated between $9,200 and $9,600. At the time of writing it was trading at the lower end of this range, just below $9,300, and has been relatively stable for a week.
$10,000 BITCOIN TECHNICALS
The longer the asset stays at this level the more bullish it becomes, increasing the probability of further upwards momentum on the path of least resistance.
So far this year bitcoin has made 30% and we are only five weeks into it. A number of factors appear to be driving these gains at the moment and they could continue into another rally equaling, or even exceeding last years. Read More...