FX.co ★ BITCOIN to reach $10,000 today? June 21, 2019

Bitcoin managed to extend strength without deeper pullbacks along the way after the price had broken above $9,400 with a daily close. Though the price may turn a bit volatile, it is held by the dynamic support levels along the way. Thus, it has a greater chance to climb higher towards $10,000 by the weekend.

Markets have hit a new high of the year. As usual, Bitcoin is a pacesetter. A total market cap top of $300 billion was touched a few hours ago as Bitcoin broke through resistance once again surging to a new 13-month high. The move came a few hours ago during the early Asian trade. We are watching gradual upward momentum through the resistance at $9,400 and on towards an intraday high of $9,800. Since then, gains have mostly held as Bitcoin remained around $9,700 with high expectations for a further move to $10,000 today or over the weekend.

Over the past week, Bitcoin surged the whopping 18% from $8,200 to its current level. Since the beginning of the year, the price is up 158% looking to make further gains. Many speculators and analysts are confident that the big $10,000 price will be hit soon, maybe even today. However, certain corrections along the way may delay this jump until the weekend. If the price manages to break successfully above $10,000 with a daily close, it is expected to reach the resistance point up to Bitcoin's previous all-time high of $20,000.

From the technical veiwpoint, the price has almost approached the psychological level of $10,000 from where certain volatility and corrections may be observed. Though the price moved higher with consistency, BTC might face bearish pressure at $9,400-500 while being carried by the dynamic levels as support. A daily close above $10,000 will indicate further upward movement along the way. As the price remains above $9,000, this reinforces the bullish bias in the coming days.

SUPPORT: 9,000, 9,400-500

RESISTANCE: 10,000, 10,300, 10,500

BIAS: BULLISH

MOMENTUM: NON-VOLATILE