Bitcoin Price Should Stay Above $10,100 On Its Way To ATH

$BTC Uptrend Fixed range Volume Profile shows the importance of Point of Control (POC) for a major range to act as support 2018 POC held as support at $6,400s IMO, we should see the 2019 POC act as support at $10,100 = Price should stay above $10,100 on its way to new ATH pic.twitter.com/VkpUYqTYrO — Josh Rager (@Josh_Rager) January 17, 2020

As Rager points out, this $6,400 POC held as support during the breakdown following bitcoin’s mid-2019 price rally. As Before, So It Shall Be Rager then looks at the period from June through September 2019, covering that mid-2019 rally. The POC for this period was $10,100. Rager suggests that, in his opinion, once this level is broken, it should then act as support in the same way that the 2018 POC did. Which means that it isn’t important that we haven’t quite broken through $9k yet. Once we do, and then subsequently break through $10,100, we shouldn’t look back. And with any luck, next time we do break into five figures, it should be on the way to a new ATH. Not There Yet Before we start rolling out the bunting though, we must first get back to five figures. As Bitcoinist reported, Rager himself has said that the $9,400 bitcoin price level, which held as support for that June-September 2019 rally, will be a significant area to break. If bitcoin price gains continue at the current rate, we may find ourselves there within the next week. Perhaps then we will see if we can shake the January blues for the entire month. Do you think bitcoin’s price will surpass the $10,000 barrier in the near future? Let us know your thoughts in the comments below! 

Images via Shutterstock, Twitter: @Josh_Rager The post appeared first on Bitcoinist.com.

source: https://bitcoinist.com/bitcoin-price-should-stay-above-usd-10100/

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