History shows that Bitcoin can add 100% after surpassing $ 10,000

Bitcoin usually tends to increase 73% every year?

After hovering below the critical resistance at $ 10,000, the Bitcoin bulls pushed the price above this level, then created strong momentum to continue sending BTC into the $ 10,100 area.

This rally marked a dynamic expansion that the king witnessed throughout 2020, with this trend allowing it to form an extremely bullish market structure.

Now, analysts note that Bitcoin is on track to see even bigger growth, as history shows that moves above $ 10,000 are often followed by increases of between 14% and 100%.

Bitcoin's $ 10,000 breakout suggests further impending impetus

At the time of writing, Bitcoin is trading at around $ 10,100 - up 2% on the day, marking a noticeable increase from the daily low of $ 9,700 - which was set last night.

It is important to note that the ability of buyers to withstand strong selling pressure from the bears during this sell-off is a bullish signal, with the underlying strength shedding light on the protection of this level. - further confirmed when the leading cryptocurrency surpasses $ 9,800.

One factor that needs to be considered in the near future is that Bitcoin's protests in history have not only ended at $ 10,000, with all intrusions at this level often leading to a 100% expansion.

Hsaka - a famous cryptocurrency analyst on Twitter, talked about this in a recent tweet, pointing to a chart that shows that the price of BTC breaking above $ 10k in the past few years has led to waves. subsequent price increases were 99%, 14% and 26%.

“BTC broke $ 10,000. The case of breaking before then has increased significantly. ”

BTC is about to announce a very bullish weekly close

Another factor that could help BTC keep going higher is that, in fact, it is about to complete a very bullish weekly bull run, but it is imperative that the bulls have to hold the price above $ 9,556 before Close the candles tomorrow.

Josh Rager, a famous cryptocurrency analyst on Twitter, mentioned the importance of this level in a recent tweet, explaining that Bitcoin will still increase in price even if it drops slightly from current levels. in.

"Even if BTC encountered a pullback after reaching $ 10k, the weekly close above $ 9556 would be completely bullish."

One thing for sure in the short term is that Bitcoin breaking $ 10,000 will lead to major upheavals, with the current history and market structure of the king showing that this volatility is very supportive of BTC buyers.

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According to NewsBTC
Translated by ToiYeuBitcoin


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