Crypto Traders Discuss Bitcoin Price Projections After Fifth $10K Test in 11 Days

The price of Bitcoin (BTC) has tested the $10,000 mark five times in the past 11 days. This price action can be interpreted as either a bullish or bearish trend, depending on individual perspectives. The repeated attempts at the significant psychological level of $10,000 can be analyzed in two ways: either the resistance at this level is weakening with each test, or it remains robust enough to prevent buyers from breaking through.

Many leading cryptocurrency traders believe that the mid-$9,000 range could be the foundation for a potential rally that may push prices toward the $14,000 to $15,000 resistance levels, with a longer-term target of $20,000 in sight. Conversely, some anticipate a significant pullback to the $7,000 to $8,000 range before Bitcoin’s price can aim for $14,000 and subsequently try to break its all-time high.