{"id":415498,"date":"2020-02-21T18:00:54","date_gmt":"2020-02-21T18:00:54","guid":{"rendered":"https:\/\/uniquehot.com\/?p=415498"},"modified":"2024-06-11T13:42:18","modified_gmt":"2024-06-11T13:42:18","slug":"bitcoins-flash-crash-was-a-healthy-pullback-that-could-catalyze-major-momentum","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoins-flash-crash-was-a-healthy-pullback-that-could-catalyze-major-momentum\/","title":{"rendered":"Bitcoin\u2019s Flash Crash was a “Healthy Pullback” That Could Catalyze Major Momentum"},"content":{"rendered":"
It now appears that Bitcoin (BTC) bulls have been able to gain the upper hand over bears in the time following the intense volatility that the asset incurred early this week during its sudden \u201cflash crash\u201d that caught investors off guard.<\/p>\n
Because BTC is now slowly climbing back up towards the coveted five-figure price region, it does appear that it is shaping up to once again see a sharp upwards movement that leads it past the resistance it faces at $10,000.<\/p>\n
In the near-term, analysts believe that the crypto\u2019s defense of key support may be a bullish sign, leading one top trader to anticipate the ongoing BTC uptrend to continue strong in the near-term.<\/p>\n
Bitcoin bulls were taken aback early this week when the cryptocurrency<\/a> plummeted from highs of $10,200 to lows of $9,200, before rapidly climbing back into the mid-$9,000 region.<\/p>\n This sharp selloff seemed to spell trouble for the cryptocurrency, and it even marked the fifth largest single hour selloff (in dollar terms) that Bitcoin has seen throughout its decade-long history.<\/p>\n Now, however, Bitcoin has begun climbing back towards $10,000, and it is currently<\/a> trading up just over 1% at its current price of $9,700.<\/p>\n George, a popular crypto trader on Twitter, recently explained that he is watching to see how Bitcoin<\/a> reacts to some resistance it faces at roughly $9,730, with a decisive break above this level opening the gates for a sudden movement up towards its next resistance at $9,960.<\/p>\n \u201cBTC: Last weeks low reclaimed, I’d like it to hold here. Next step reclaiming our range low for further upside towards the weekly open \/ mid range. I like what I see so far,\u201d he explained.<\/p><\/blockquote>\n $BTC<\/a><\/p>\n Last weeks low reclaimed, I'd like it to hold here. Next step reclaiming our range low for further upside towards the weekly open \/ mid range. I like what I see so far. pic.twitter.com\/KPO7x7cW1Z<\/a><\/p>\n — George (@George1Trader) February 21, 2020<\/a><\/p><\/blockquote>\n\n