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Bitcoin (BTC) Soars Above $10,000 – Here’s What Will Trigger ‘Insanely Bullish’ Breakout According to Analyst Josh Rager

Bitcoin is pushing to take out a level of psychological resistance that has kept the market in a downtrend for almost a year.

Crypto strategist Josh Rager tells his 72,000 Twitter followers that BTC is close to making a move that will have huge bullish implications. However, the bulls have a bit of work left to do.

“BTC breaking above daily resistance. [Bitcoin is] showing no mercy to bears and is on route to try to break above $10,300. Closing above $10,370 would be insanely bullish.” 

The crypto analytics platform Santiment says that Bitcoin’s rise in valuation comes as the leading cryptocurrency shows robust yearly on-chain and social fundamentals, although the monthly timeline is a different story.

“On the yearly timeframe, BTC shows a clear rise in DAA, trading volume, and an up-and-down social volume. Though this price could hold and push toward $11,000 and beyond, the shorter term monthly is more of a small decline for these same three metrics since the beginning of May.”

Source: Santiment

Due to the conflicting data, analysts at Santiment suggest that investors play it by ear and wait to see whether FOMO drives the price higher or profit-taking ensues.

The leading cryptocurrency is trading at $10,097 at time of writing, up 5.80%, after posting a 24-hour high of $10,199.56, according to CoinMarketCap.

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