Bitcoin needs to hold the current price region where it’s at now to confirm that it remains in a bull trend, analysts say.
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Bitcoin must hold $10,000 in the near future to confirm that it is in a bull market, one macro analysis suggested.
A cryptocurrency chartist and trader shared the chart below, which shows Bitcoin’s macro price action along with an Ichimoku Cloud indicator. Bitcoin bounced off that level multiple times over the last bull market to confirm it was in a bull trend.
Chart from TradingView.com. Macro Ichimoku Cloud analysis by crypto trader “Nunya Bizniz” (@Pladizow on Twitter).
He’s not the only one that thinks Bitcoin should hold this level.