Bitcoin broke $ 10,000 – what to expect?

Bitcoin broke $ 10,000 after growing by approximately 6% in the last 24 hours.

This is the third time that Bitcoin traded over $ 10,000 in the last few months. The question is whether the flagship cryptocurrency will be able to continue its rise.

Bitcoin is over $ 10,000

Many experts believe that the breakthrough at this level is extremely significant. 

The monthly chart looks pretty bullish, as long as Bitcoin stays above the key level. According to coinmarketcap, BTC managed to reach $ 10,185 before withdrawing.

At the time of writing, Bitcoin is consolidating around $ 10,121 before moving up or falling to the previous range.

The current price is the highest since the beginning of 2020, when BTC was in a bullish market, which was previously stopped by the coronavirus. 

Raoul Pal, a popular crypto investor and analyst, shared a chart that suggests a multi-year channel breakthrough is imminent. Different analyzers draw the lines of the channel with some differences, so the key level is rather range.