Bitcoin is bullish but holding $10.4K is key

Bitcoin is bullish but holding $10.4K is key

Gate Trade News Thursday, February 13, 2020 39 0

Meanwhile, since the beginning of the year, Bitcoin’s dominance rate has dropped from 68% to 62% with many altcoins seeing double and even triple-digit percentage rallies. 

Currently, Bitcoin bulls are fighting to push and hold the price above the $10,300 to $10,400 resistance. Traders have pushed as high as $10,450 but the last three attempts to cross above it have been rejected at the overhead trendline of the ascending wedge pattern. 

If bulls can flip $10,300 to support, then many analysts expect Bitcoin price to slice through the $10,500 to $10,900 zone and run to $11,000-$11,500 as there is a demand gap on the volume profile visible range.