PlanB S2FX model suggests that Bitcoin is on the verge of breaking out towards the coveted $10,000 level. Bitcoin Cash spike tests $225 resistance ahead of possible triangle pattern breakout. ETH/USD trading pair is at the point of no return; gains towards 0.0300 anticipated. Cryptocurrencies could be finally waking up following an extended period of consolidation. Bitcoin, for instance, has been trading in a wide range between $9,000 and $10,000. However, the latest Bitcoin Stock-to-Flow Asset Model (A2FX) shared by PlanB shows that the price is on the verge of a breakout. The red dot on the S2F model places Bitcoin near term price above $10,000. Related content: Cryptocurrency Market News: Bitcoin popularity surges in the UK ETH/USD pair starts to breakout The ETH/USD trading pair is more than often used to signal incoming rally in the cryptocurrency market. At the time of writing, the price is trying to break above the long term symmetrical triangle resistance. Such a breakout could easily place BTC/USD on a trajectory towards 0.0300. Some hurdles expected along the way include April high at 0.0260 and 0.0270. Bitcoin Cash market update Bitcoin Cash has been on a consistent rise since the European session started. While other cryptos are struggling with detangling from the bearish traps that have held them hostage throughout June, BCH/USD has shown that gains are possible in a generally bearish market. At the moment, BCH is teetering at $224 following over 1% in gains on the day. An intraday high has also been traded at $225 (marking a key resistance area). Further correction towards $230 would lead to a breakout above a rising triangle as observed on the chart below. Bitcoin price update Bitcoin is also in the green, although slightly. Buyers have tried to take down every inch of the ground heading to $9,200, however, an intraday high has been formed at $9,190.31. BTC/USD has since adjusted to $9,170 (prevailing market value). The factors holding the bulls back include the bearish dominance, low volatility and low trading volume. However, according to the S2F model above, it is only a matter of time before Bitcoin resumes the journey towards $10,000. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next NZD/USD Price Analysis: Sits near 1-week tops, above mid-0.6400s FX Street 2 years PlanB S2FX model suggests that Bitcoin is on the verge of breaking out towards the coveted $10,000 level. Bitcoin Cash spike tests $225 resistance ahead of possible triangle pattern breakout. ETH/USD trading pair is at the point of no return; gains towards 0.0300 anticipated. Cryptocurrencies could be finally waking up following an extended period of consolidation. Bitcoin, for instance, has been trading in a wide range between $9,000 and $10,000. However, the latest Bitcoin Stock-to-Flow Asset Model (A2FX) shared by PlanB shows that the price is on the verge of a breakout. The red dot on the S2F model places… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
