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Bitcoin (BTC) Price Analysis — Surging 30% Over the Day. What Level Above $9,000 Will It Fix On?

Price Predictions
Sat, 10/26/2019 - 08:27
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

The Bitcoin exchange rate soared by almost 30% in just a few hours. Together with the leading crypto, all altcoins also quickly went into the green zone. Meanwhile, the trading volume level of BTC has updated its maximum over the last year - the current value constitutes $30 bln. 

Top 10 coins by Coinstats
Top 10 coins by Coinstats

The sharp increase in the BTC price can be linked with the fact that buyers entered the market, considering the current levels after the recent correction quite attractive. In addition, the Bakkt platform showed a sharp increase in volumes.

Title: Bitcoin

Ticker: BTC

Market Cap: $172 450 764 520

Price: $9 573,39

Volume (24h): $44 333 051 292

Change (24h): 28,31%

The data is relevant at press time.

BTC/USD: Should We Expect a Slight Rollback or a Deep Correction?

Bulls have not just got out of the bearish local trend but managed to come back to the levels of September 2019. The price surged to $10,300 on some exchanges, rising by more than 40%. Meanwhile, the Bitcoin market dominance has increased more than 3% and now totals 68.4%.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

On the 4H chart, Bitcoin is oversold and a decline to the nearest support zone between $8,300 and $8,700 is likely to occur in a few days. Now, it is difficult to tell whether yesterday’s growth was a false breakout or a bullish trend revival. 

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If BTC bounces off the support and goes up, that will be the start of a new bull run in terms of a long-term scenario. In the opposite case, bears will keep pushing the price below $8,000. 

Bitcoin is trading at $9,593 at press time.

About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and make predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others.

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Bitcoin (BTC) Price Prediction — Growth to $7,000 Remains Questionable

Price Predictions
Tue, 03/31/2020 - 14:37
Put your
crypto to
work
  • 1.30

    Interest per week

  • 67.5

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  • 3.60

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Sponsored by Celsius.Network
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

The cryptocurrency market has been maintaining less and less strength for continued growth despite the fact that most of the top 10 coins are in the green zone.

Top 10 coins by Coinstats
Top 10 coins by Coinstats

However, a slight bounce back has influenced the total market cap, which has increased by around $3 Bln since yesterday.

Total market cap
Total market cap

The relevant data for Bitcoin is below.

  • Name: Bitcoin

  • Ticker: BTC

  • Market Cap: $117 926 694 477

  • Price: $6,445.12

  • Volume (24h): $35 955 339 080

  • Change (24h): 1.98%

The data is relevant at press time.

BTC/USD: Any chances left of conquering $7,000? 

Bitcoin (BTC), on the 4H timeframe, has continued moving in a range ($5,800- $6,900). After the March 29 decline, one has confirmed the lower border (support) of this range near the $5,800- $5,900 zone.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

The main resistance is at around $6,620. The main and key support is also around the $6,100- $6,250 marks. Using the volume profile, you can more accurately see it at the $6,170 - $6,190 level.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

On the daily timeframe, the decline was absorbed immediately in 2 days (March 28 and 29). While the price is trading above $5,900- $6,100, there are chances of continued growth and a test at the $6,900 - $ 7,100 level again.

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The longer the price stays in the $5,800- $6,900 range, the greater the likelihood of an accumulation phase. In this case, one can predict a price increase to $8,500 in the medium term. For this, Bitcoin (BTC) needs to trade above $5,100 so as not to break the main trend.

Bitcoin is trading at $6,429 at press time.

About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and make predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others.

Recommended articles
Safe Haven? Bitcoin (BTC) Greatly Outperforms Stocks in Q1 Despite Price Plunge

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COVID-19 Crisis Ruins Bitcoin's Q1, but Bulls Could Soon Have Massive Comeback

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Bitcoin Price Spikes to Nearly $7,000 on Kraken as Whales Transfer More Than $300 Mln Worth of BTC

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