- Bitcoin (BTC) is in a good bullish trend with support of US $ 9,200 and US $ 8,600 against the US dollar.
- On the 4-hour chart of the BTC / USD, there is an uptrend trend line with support of $ 9,150.
- The pair will rise further and will exceed the $ 10,000 barrier in the short term.
The price of bitcoin is well above your $ 8,600 support against the US dollar. In the future, the BTC / USD is preparing to increase the $ 10,000 and $ 10,500 gains. Bitcoin is currently trading at $ 9,448.
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Bitcoin (BTC), market signals
The past week, Bitcoin, rolled over and traded up to $ 9,800 against the US dollar. Bitcoin traded as high as $ 9,742 before appearing at the seller . Later, a downward correction was initiated and the price fell below the support level of $ 9,500 and $ 9,200. The price increased 23.6% Fib improvement level of the last leg from 7.786 to 9.742. Finally, there was an increase below the $ 9,000 level before receivers reappeared.
Bitcoin increased the level of Fib recovery by 61.8% to $ 9,742 from $ 7.786 to complete a correction pattern. BTC later moved on and went above $ 9,000. Buyers also managed to break the BTC / USD on the 4-hour chart with a resilient trend line at $ 9,200. The pair seems to have risen above $ 9,200 and could increase gains to $ 9,750. More importantly, the price may possibly reach a new high level, reaching 10,000 per month.
Bitcoin (BTC) exceeds the $ 10,000 barrier! What will happen next?
Based on the chart, Bitcoin has an uptrend of upward trend with $ 9,150 support. For this reason, if the price is lower than the current levels, it is likely that the $ 9,200, $ 9,150 and $ 9,000 levels will be blocking the declines.
Technical indicators include Bitcoin (BTC), price analysis
4-hour MACD: MACD rise zone for BTC / USD pair.
The 4-hour RSI (Relative Strength Index) is rising to RSI 65.
Major support level: US $ 9,150
Great resistance level: US $ 9,750