After a significant 10% rally in two days, Bitcoin has consolidated in the last two days.
The bulls are focused on supporting the 12-period exponential moving average on the daily chart.
The increase in volume, during the rise, and its decline, during the consolidation, indicate that it is likely to continue for the next 48 hours.
If we see a break of the $ 9,630 level, we will probably see another $ 10,000 test.
There is an obvious bull flag on the weekly chart, and the bulls are waiting for a signal here. The exponential moving averages have made a bullish cross and the MACD remains bullish as well. The clearest upward resistance is $ 10,000.
According to Matti Greenspan, Bitcoin will reach $ 10,000 before June.
Greenspan did not share what he based his opinion on. On the one hand, we have the expiration of CME futures this Sunday. According to a recent study, futures leakage had a positive effect on the flagship cryptocurrency 24 hours earlier.
This would mean that Bitcoin will rise on Sunday or Monday.
Bitcoin longs continue to dominate the platforms. BitMEX currently has about $ 233 million in open long positions and only $ 51 million in short ones.