- BTC/USD has been slowly inching closer to $10,000 for the past three days.
- The total number of daily active addresses continues to grow.
- Bulls want to see a significant surge in trading volume for a successful $10,000 breakout.
Bitcoin is holding surprisingly well after the flash crash on June 2. Bulls keep defending the daily 12-EMA while Bitcoin slowly climbs higher. BTC/USD is trading at $9,660 at the time of writing, looking at the $9,887 resistance level.
A daily parallel channel has also formed recently and could hold Bitcoin inside for the next few weeks before a clear break.
Fundamentals are strong for Bitcoin
According to the most recent report by Santiment, the number of Bitcoin’s daily active addresses is growing. This metric can be deceiving as addresses will become active when Bitcoin crashes because people are looking to sell; however, it is still a good indicator if we look at the general picture.
Additionally, Grayscale, a massive Bitcoin trust fund, ha accumulated over 28,000 BTC since the halving. Almost 10,000 Bitcoin just last week according to recent statistics
BTC/USD daily chart
BTC/USD technical levels
|Today last price||9664.29|
|Today Daily Change||-126.00|
|Today Daily Change %||-1.29|
|Today daily open||9790.29|
|Previous Daily High||9887.21|
|Previous Daily Low||9447.49|
|Previous Weekly High||9614.06|
|Previous Weekly Low||8637.26|
|Previous Monthly High||10074.48|
|Previous Monthly Low||8105.58|
|Daily Fibonacci 38.2%||9719.23|
|Daily Fibonacci 61.8%||9615.46|
|Daily Pivot Point S1||9529.45|
|Daily Pivot Point S2||9268.61|
|Daily Pivot Point S3||9089.73|
|Daily Pivot Point R1||9969.17|
|Daily Pivot Point R2||10148.05|
|Daily Pivot Point R3||10408.9|