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Bitcoin (BTC) Price Prediction — Analyzing Chances to Reach $9,000

Price Predictions
Fri, 01/17/2020 - 21:05
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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.

Bitcoin, as well as the cryptocurrency market, keeps conquering new levels. Most of the top 10 coins are dominated by bulls, except for Bitcoin SV, which keeps losing its price value after recent sharp growth.

Top 10 coins by Coinstats
Top 10 coins by Coinstats

Meanwhile, the total market capitalization mark has reached new highs in the framework of the existing trend. Currently, its value is $241 Bln.

Total market capitalization mark
Total market capitalization mark

The relevant data for Bitcoin (BTC) is pointing to a turn in the opposite direction.

  • Name: Bitcoin

  • Ticker: BTC

  • Market Cap: $160 502 530 406

  • Price: $8 835,39

  • Volume (24h): $34 182 980 608

  • Change (24h): 1.55%

The data is relevant at press time.

BTC/USD: Are bulls already exhausted?

Even though yesterday's price prediction has not yet come true, it is still relevant in a short-term scenario.

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

On the 1H chart, Bitcoin has touched the $9,000 level, however, could not fix above it. Based on the candle analysis, the leading crypto is about to come back to the nearest support at $7,700.

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What is more, the trading volume index is not increasing much in terms of the current price rise.

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

In the bigger picture, it looks even more bearish. The bearish divergence has been formed on the RSI indicator. In addition, buyers have started fixing their positions based on the VR indicator. As a more likely scenario, traders may consider a decline to the range between $8,300-$8,400 by the end of January.

Bitcoin is trading at $8,853 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

    Interest per year

  • 3.60

    Interest rate

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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

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

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

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