Bitcoin Struggling to Break $10,000, But Is Bearish Bias Warranted?
Price rallied above the previous resistance while failing to establish support above the $10,100 level. As the liquidity is already taken above the $10,000 level, a renewed test of this resistance zone should lead to a continuation upwards.
Given that the charts are still providing a CME gap at $11,500, confluent with a horizontal resistance level, it’s likely to expect a rally towards $11,500 as the next resistance zone. If the price of Bitcoin drops below the green zone, a bearish retest and confirmation of resistance will trigger continuation further downwards.