Bitcoin has been on a rollercoaster ride over the past few weeks, making it rather difficult for Bitcoin casino players to time their buys and sells perfectly.
If you’re looking to get a good deal for your Bitcoin, now might be the perfect time to consider selling off some as Bitcoin smashes through $10,100.
Pushing into Resistance Levels Once More
All throughout May, we saw Bitcoin run into heavy resistance at the $10,000 mark, and today’s action has seen Bitcoin retest these levels once more.
Unlike in May, Bitcoin has managed to break through the $10,000 level and make it all the way up to $10,100, which is a very encouraging sign.
However, despite making a dent in the resistance level we are starting to see Bitcoin start to slow down and pull back towards $10,000.
If you’re recently had a win while playing at your favorite Bitcoin casino, it might be worth cashing out and swapping that Bitcoin back to USDT or a fiat currency of your choice.
If May’s resistance levels manage to hold and regain control, we will see Bitcoin slide back down sub $10,000 – meaning you can buy back in and win twice in one week!
What’s on the Cards for Bitcoin This Week?
If May’s resistance levels do remain intact and push Bitcoin back down below $10,000, we could see Bitcoin slide as far as $8,600.
If this is the case, placing a sell order above $10,000 would yield a pretty decent return if you then wait for the low and buy back in – giving you more Bitcoin for your winnings.
On the other hand, if we can break out of May’s restrictive patterns, which could very well be on the cards, then we could see Bitcoin progress on up to $11,000.
The RSI has completely reset and is trading at neutral 50, which is a great sign and points us towards May’s trends breaking down.
There is a lot of support sat at $9,300 which could be critical if May’s patterns hold fast, so do keep a close eye on Bitcoin if it does dip down towards this level.
Don’t Get Too Bullish Just Yet
This time last week, Bitcoin was sat at $8,850 and looked poised for a small drop down before a rally to $10,000.
Now we’ve seen those predictions come true and run their course, it’s time to once again readjust our price targets for the upcoming week.
If Bitcoin can hold onto these recent gains and fend of May’s trends, we’re staring down the barrel of a gradual rise up to $11,000 where we will meet some fresh resistance.
If Bitcoin does make it to $11,000, we could very well be entering bullish territory and Bitcoin could rise up to the mid $12,500 mark before we see any significant negative movement.
On the other hand, if May’s patterns do take hold, which looks like the likelier of the two possible outcomes right now, then Bitcoin will slide back down below $10,000.
Our best advice to you right now is to place some sell orders all the way down to $10,000 to help cash out your Bitcoin winnings.
If you’re looking to fill up your Bitcoin wallet, we highly recommend that you hold on for a few more days to see which way Bitcoin goes.
If the charts are right and May’s trends hold on, you could get yourself some more “cheap” Bitcoin as it slides back below $10,000.