Bitcoin Price USD Analysis: BTC/USD touched $9300

Bitcoin Price USD has gone past $9300 and it is showing progressive behavior toward the $10000 mark. The BTC/USD price is trading in a confident area, up +3.97% in the 24 hours.The Bitcoin Price USD bulls are in full recovery mode. The first sign BTC displayed was a break north of $8498. This was a big support for the bulls as the $9000 price mark is rehabilitated.

Bitcoin Price USD Analysis — Image Source: Tradingview

Bitcoin Price USD to touch $10000?

Bitcoin price USD has improved from the opening value of $9,395 on Wednesday to the intraday high of $9,430. At the time of reporting, Bitcoin has a market value of $9,339 following an approximate loss of 0.50%.

This week, the Bitcoin price USD has improved by almost 11.24% to 12%. The low-level price of $8,303 to a high level of $ 9,191. The bullish drive displayed an inclination to drive the BTC past the moving average. Breaking this key resistance level into support is regarded as one of the symbolic signs that the Bitcoin Price is going to start a meaningful stabilization confirmed by historical data. This momentum can take BTC towards the important mark of $10000.

Bitcoin Price USD to continue its momentum?

Before this price momentum, the Bitcoin Price USD dropped to approximately $8,202. After buyers who purchased at the low price, Bitcoin rose astonishingly increasing in less than 68 hours. The resolute resistance at $9,198 gave the traders a very difficult time. Still, trading above the next barrier at $9,400 has given the belief that there is a possibility of delivering above the subjective $10,000 mark.

According to prominent analyst Peter Brandt, this bullish performance is possible because of the top zone of the downward parallel channel of the 18-day moving average. He tweeted:

Reasons to believe current correction in Bitcoin could hold
1. Retesting upper boundary of channel is normal
2. Retesting 18 DMA
3. No 3DTSR has been triggered
4. Jan 14 low remains intact
Should above items change, then more serious correction could occur$BTC pic.twitter.com/00O9wfv8h3
— Peter Brandt (@PeterLBrandt) January 24, 2020

Bitcoin Price USD: What’s ahead?

As per our technical analysis, Bitcoin price USD to be ruled by the improvement from the gains capped at $9,444. As recognized by RSI, the bears are getting stressed. Also, the RSI is looking distinctly downwards.In our previous Bitcoin analysis, we had predicted that BTC/USD could touch $9000 mark.

The Bitcoin price USD is rising fast after today’s surge and it is showing a current 1.6% surge. The daily chart is showing uptrend and the bulls have been able to hold the 25-period EMA as support.

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Posted By

Prasanna

Prasanna is the editor-in-chief of CryptoTicker English. He has a huge knowledge of the cryptocurrency market. He is an extremely accomplished technical analyst having vast experience in the crypto domain.