The Bitcoin exchange rate rose to over USD 10,000 within an hour and reached a new monthly high of USD 10,315. This high came after a rather dull close of the week when the top digital asset on CoinMarketCap was able to climb over an important multi-year downward trend line. The Bitcoin price showed strength a few hours after the close of the market, rising above the resistance zone at $10,100.

Analysts are now expecting traders to target the $10,500 level. Above this, it is estimated that it will go up to $11,000, $14,000 or even $16,000. The last two rises above $10,000 were due to strong volume jumps. This means that traders should keep an eye on the buying and selling volume. This allows them to determine if the current rise can sustain the upward momentum.