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Bitcoin (BTC) Needs Bulls to Cross $10,000 Mark

Bitcoin (BTC) cruises along the $9,700 to $9,800 range with the help from the bulls. But the BTC/USD pair may need another push to clear the $10,000 mark.

BTC/USD

Bitcoin (BTC) inches closer to the $10,000 mark  as it trades at $9,800 earlier today. At the same time, the BTC/USD pair hit exactly $7,800 on Bitfinex while Coinbase posted $9,795 and Gemini $9,783.53.

BTC/USD trades at $9,730.32 at press time, registering a 4.84-percent increase in the last 24 hours. The bulls are yet to push the pair a few more notches higher to close in on that $10,000 level.

Bitcoin (BTC) Chart June 21

According to FXStreet, BTC may continue to break down if it fails to clear the $9,500 support area.

“The next course of action for Bitcoin is sideways according to the technical levels as seen on the 4-hour chart. The Relative Strength Index has started to range inside the overbought suggesting directionless trading in the short-term. The Moving Average Convergence Divergence (MACD) continued to move upwards above the mean line. The increasing divergence is an indicator of continued upside correction as bulls gain traction.”

june21-BTC

If another bullish momentum can drive BTC/USD today, predictions of most analysts that BTC will land in the $10,000 region will be correct.

| RELATED: Analysts See Bitcoin (BTC) Landing Within $10,000 Region

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