Bitcoin has seen quite the shaky price action over the past two weeks. After the coin hit $12,000 earlier this month, bearish price action has pressured the asset lower. The bearish price action has somewhat been caused by downward action in legacy markets. While Bitcoin’s correction has marked a 20% drop from the highs, analysts remain optimistic. One trader is leaning bullish on BTC because it managed to hold above the $10,000 support on a weekly time frame. For Bitcoin to confirm that it remains in a macro bull trend, the coin should cross above $11,900, that trader said. There are a number of trends suggesting that BTC’s uptrend will soon resume. Bitcoin Needs to Close Above This Level to Resume Uptrend
Bitcoin managed to hold the pivotal $10,000 support level into the weekly close as noted by Blockroots co-founder Josh Rager.
The crypto trader and commentator shared the chart below, showing that the coin managed to achieve this