Bulls hold $10,800 as Bitcoin closes above major support area for the ninth week in a row

The daily streak started on July 27, when bulls pushed the price to $11,043. That previous streak from 2017 ran from December 1 through January 31, 2018, before the market rolled over into a bear that eventually crushed prices down to $3,000.

Over the past week, traders leaned bearish. BTC dropped to as low as $9,800 and struggled to climb past $10,600. September has been thin on volatility, according to Skew Analytics, with realized volatility averaging 49% over the last three months and 47% over the past 10 days. That muted movement pinned the price under $11,000 for most of the period.

Josh Rager, a respected crypto trader and technical analyst, pushed back against the pessimism in a Sunday tweet. "Weekly close looks good and I don't know why people continue to be overly bearish. Bitcoin got a short term pullback and -20% is nothing unusual," he wrote. Morgan Creek Digital's Antony Pompliano made a similar case, using the 63-day milestone as evidence that prices would climb higher.

Bitcoin trades near $10,900 as of late September, up more than 2% from prior levels. Bulls could test resistance around $11,000 to $11,500 before targeting 2020 highs near $12,500. Gold and the Dow Jones also advanced this week, though earlier declines had sent gold to a 10-week low of $1,860 per ounce and the stock index to an 8-week low.