Bitcoin tops $10K for the first time in 2020 – 40% increase YTD

Bitcoin finally reached $ 10K on February 9th, marking the start of the new year.

With the cryptocurrency’s halving approaching in May, Coinbase began insisting that bitcoin would become “digital gold”.

Definitely the short-term trend is still up, with the price breaking a lot of supports to reach its current levels, but it is only half of the peak reached in 2017. The next short-term resistance is around $ 10,800 and we may witness some of the profits, which will accumulate sales and a healthy correction of this mini trend.

In an alternative scenario, the cryptocurrency is again sinking below $ 10K and below horizontal support, which will open the way to a fall to about $ 9,300.

 Trader Aleksandar Kumanov

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