3 reasons why bitcoin still hasn't broken $10,000 Bitcoin might be on track to break the $ 10,000 level, but this has also led some analysts to believe that the cryptocurrency is about to retest its low point.The price of bitcoin has been holding at $ 9,600 for three consecutive weeks, and while this may be a local top, some analysts still expect bitcoin to test its lows.In recent months, there are a lot of factors that can affect the trajectory of bitcoin. These include the influence of the us Federal reserve's ongoing bond-buying program, as well as institutional money. Given this, it is somewhat ironic that bitcoin hasn't broken $ 10,000 in the same period. three consecutive weeks. Other factors that can affect the dynamics of bitcoin include a prolonged period of negative news, as well as a major correction.During this time, bitcoin tends to drop before the upward movement becomes significant. Historically, this has been the case when the price was in a state of uncertainty. Therefore, it seems likely that during this period, bitcoin will drop before the bull Run is significant. A confluence of factors such as a prolonged period of uncertainty, a key resistance level that is difficult to break, and technical analysis supporting this assumption, could trigger a short-term correction.However, as long as bitcoin remains below $ 10,000, technical analysis remains the most significant challenge for BTC. Historically, BTC has shown poor discipline as it moved between $ 9,600 and $ 10,000. Therefore, it is extremely important for bitcoin to break through this resistance level quickly.If BTC fails to do so, the question then becomes how low can bitcoin fall before the bull Run? To determine this, we need to compare the movement of BTC with the previous year. years.Technical analysis shows that bitcoin typically moves in a narrow range around this $ 9600 level. The range is this high because BTC is in a long-term uptrend, and low because the market is in a correction.Technical analysis also shows that BTC typically bounces around this range, and this is normal. The last few months show that BTC tends to break higher resistance levels from time to time. For example, the bitcoin price bounced off the $ 10,000 level in March, before recovering to $ 10,000 again this past August.However, this same BTC movement can be observed during periods when the market is in a local downtrend. In this case, a local top can be created, and this is an optimistic one. Therefore, we can only expect that the range will be limited, and that BTC will move within this range. Bitcoin price history shows that a local top is forming before each movement, this is a positive sign. The local top can be established quickly, as this is shown in the chart above.The last few months have been bad