The Bitcoin price has risen in recent months and surpassed the $10,000 resistance zone against US Dollar. The Bitcoin price currently hovers around $10,000, as the upward drive has slowed. The top cryptocurrency reached an intraday peak of $10,166 but was quickly wiped out by a lack of follow-through and slow trading movements. The BTC/USD combination drove above the $9,800 resistance level and the 100 hourly simple moving mean. The duo also cut the $10,000 resistance and returned the $10,000. The Bitcoin price is currently at a lower level and a wave high was set near $10,177.
Despite some positive improvements on Wednesday, Bitcoin bulls remain wishy-washy. The current Bitcoin price is capped by strong technical problems that deter buyers short-term. The lower volatility could indicate that the bulls are unable to push the Bitcoin price higher. BTC/USD increased by 3.4% over the past day and has been stable since Thursday’s beginning.
Is Bitcoin Price secular?
Secular refers to market movements that occur over the long-term. Secular can also refer to stocks or stock divisions that are not affected by short-term trends. They are stable over time. Secular stocks support a latent trajectory despite current financial trends. Secular trends do not occur annually or are cyclical. A secular market is the market’s overall course or area over five years or more, according to the Bitcoin price index. Secular trends can be either higher or lower in direction.
Secular progress can take a positive or a negative direction. Investors can be secular bears and secular bulls. The term does not always signify an increase. Secular can also indicate exciting or implied shifts, as the word doesn’t recognize the degree of change. The key features are the long-term scene and the absence of short-term influence on the associated movement.
The chart clearly shows that bitcoin prices are trading at a positive trend above the $9.910 and $9.852 levels. If there is a sharp fall, the bulls will likely defend the $9,000.00 support level. Positively, a distinct division above 10:190 will most likely signal the movement towards $10,500. After the price movement of the backer at $9,000.00, Bitcoin price rises to $10,000 The strain at $9.798 indicated the route for a major lift towards $10.200. BTC/USD trades at $10,017 at the time of writing. The 100 Simple Moving Average (SMA1) is its next decline.