Bought the Dip? Bitcoin Price Rebounds Strongly With $11,000 in Sight
Bitcoin has rebounded above $10,000 and successfully confirmed the $9.8K level as support as BTC appears to be getting ready for the next move up.
Bitcoin (BTC) price made a small correction yesterday as it dropped from $10,100 towards $9,800. However, today’s bullish momentum returned and the price bounced back above $10,000 to make a new 2020 high at $10,370.
So is the continuation of bullish momentum likely? Let’s look at the charts to see what could occur next.
Crypto market daily performance. Source: Coin360
Bitcoin finds support at $9,800 and continues upwards
BTC USDT 12-hour chart. Source: TradingView
Many Bitcoin traders were waiting for the price to drop to the support at $9,500 but this was not to be. Instead of dropping further, the price stabilized at the $9,750 level and continued its upward momentum.
Does this mean that continuation is likely? The current price action sti