Classic Trendline Breakout Positions Bitcoin for $10K Retest, Say Traders

The price of Bitcoin (BTC) fell to a low of $9,100 on May 15 after encountering significant resistance at $9,900. In the near term, traders are still hopeful for a rebound toward the $10,000 mark, or at least to the $9,800 resistance level.

Crypto market daily price chart.

A classic trendline breakout suggests that Bitcoin may be poised for a retest of the $10K level, according to traders.