Will Bitcoin Cross $10000 in June?
Bitcoin breaks $9000 and now trading at $9210 (at the time of writing). The major question is now that will Bitcoin will cross $10,000 in June?
The short answer to this question is probably yes. Looking at the momentum Bitcoin gained since the starting of April, Bitcoin will easily break the psychological barrier of $10,000 in June.
The situation is now the same as seen in summer of 2017, after that price surge to $20,000. The Bitcoin market is preparing for strong growth. Bitcoin has already breached the major psychological resistance of $6000 and now heading towards the biggest barrier of $10,000.
Bitcoin consolidates between $3200 to $4000 from January to March and after that, a strong buying volume will hit the market that pushes the price above $6000.
Bitcoin struggles to break $8800-$9000 resistance in the first attempt but now the resistance is converted into support. With a good push of volume, Bitcoin will easily break the resistance of $10,000 and after that, the rally is insane because there are not sell orders above $10,000 (virtually). All round figures will acts as resistance before we hit $10,000.
Technical indicators showing major bullish movement on the charts. Bitcoin is now trading above all the daily Moving Averages (MA) which is a great sign of the bull market. RSI (Relative Strength Index) is also below the overbought zone and looks bullish. The story remains the same for the weekly chart.
Experts start predicting that Bitcoin bull is started and this will be the biggest Bitcoin Bull run of history. Facebook already entered into the arena and ready to boost up the crypto market. Bakkt announced dates to start trading of physical Bitcoin Futures contracts.
The beast is awaken ready for wild rides. This year brings a lot of development and money in the crypto market.
