After a surly weekend which saw Bitcoin (BTC) price drop 8.76% to $9,444, the price has once more reclaimed the $10K mark. Prior to the breakout, the cost was steadily moving upward, reclaiming the $9,800 back up on increasing trading volume.

Over the weekend many traders expressed fright that a drop below $9,450 would solidify a bearish trend reversal but previous analysis by Cointelegraph suggested that a sharp retrace that could pull the price to the $nine,500 to $eight,800 zone was needed after Bitcoin's recent strong performance.

Crypto market daily price chart

Crypto market daily price chart. Source: Coin360

Cointelegraph contributor Michaël van de Poppe also explained that above $9,450 Bitcoin remained bullish every bit many traders would exist looking to close the CME gap at $10,460.

Despite the weekend correction, a golden cross between the 50 and the 200-solar day moving average was unaffected and the relative force index (RSI) on the daily timeframe remained about l.

BTC USD daily chart

BTC USD daily chart. Source: TradingView

Today'south price activity brought the price back above the 23.vi% Fibonacci retracement level at $9,500 and likewise above the 20-MA of the Bollinger Ring indicator. If the price can manage a shut in a higher place $10,000 and so it seems likely that traders will look to follow the CME narrative that Bitcoin cost should shut the recently created gap at $10,460.

Before filling the gap, Bitcoin price will need to overcome the $x,168 to $10,330 zone, which the book contour visible range (VPVR) suggests could exist a challenge.

Flipping this zone to support would open the door for the cost to extend to the upper Bollinger Band arm at $10,500 and as discussed in a previous analysis, the VPVR shows that above $10,500, Bitcoin price could chop-chop ascend to $11,000 to $11,500.

Altcoins too showed significant strength every bit Bitcoin's price rallied back above $10,000. Tezoz (XTZ) rallied 12.63%, Ether (ETH) 8%, XRP 4.34% and Chainlink (LINK) 5.38%.

Bitcoin daily price chart

Bitcoin daily toll nautical chart. Source: Coin360

The overall cryptocurrency marketplace cap now stands at $290.9 billion and Bitcoin'south dominance charge per unit is 62.two%.

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