Bitcoin (BTC) Price May Bounce to $9,175, Then Hit Further Resistance

Mon, 03/02/2020 - 14:23
Yuri Molchan
As the Bitcoin price is beginning to rise, crypto traders are turning bullish, expecting BTC to break $9,000 but a resistance may follow
Cover image via

For about a week already, Bitcoin has been fluctuating below the $9,000 level. It never dropped below $8,500 though. Presently, the flagship cryptocurrency is demonstrating a moderate rise.

Traders are gradually becoming optimistic, believing that BTC may well recover above the $9,000 price level soon.

‘We might see a bounce upwards here’

Crypto analyst Michael van de Poppe remains bullish on Bitcoin. He expects the BTC price to hit $9,175. If that happens, the analyst believes this is where BTC may bump into resistance.

Image via Twitter

‘Higher prices coming’

Crypto trader @George1Trader also has a bullish take on the situation with Bitcoin. He states that BTC has broken above the mid-range and made a strong close on the 4-hour chart.

Seems as though the trader does not yet see a bearish sign.

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‘Reasons to be cautious’

Crypto trader ‘Joker’; however, is among those who are not so optimistic. He gives three reasons to be careful with bullish expectations on the major cryptocurrency.

“Three reasons to be cautious: 

1- #Bitcoin lost EMA(21 & 55) $9k - $8.8k support on the 3D chart.

2- MADC bearish cross and the selling momentum has increased.

3- #BTC finds resistance at $8800 - $9500 levels while supports are at $7300 - $7800 levels.”

Image via Twitter


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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at

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