Bitcoin Market Forecast: BTC/USD gearing up for another attempt to crack $10,000 as active addresses keep growing


  • 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, has accumulated over 28,000 BTC since the halving. Almost 10,000 Bitcoin just last week according to recent statistics.

 

BTC/USD daily chart

BTCUSD

BTC/USD technical levels

BTC/USD

Overview
Today last price 9664.29
Today Daily Change -126.00
Today Daily Change % -1.29
Today daily open 9790.29
 
Trends
Daily SMA20 9424.93
Daily SMA50 8775.58
Daily SMA100 7907.87
Daily SMA200 8087.85
 
Levels
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

 

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