Bitcoin Price Is Aggressively Targeting $9,550: Crypto Traders

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    In the early hours of January 6, the Bitcoin price started growing from the $7,400 area and reached $7,586, now traders believe it is targeting the $9,550 zone

Bitcoin Price Is Aggressively Targeting $9,550: Crypto Traders
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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.

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The price of the major cryptocurrency has finally moved up from the $7,400 area where it had been trading for quite a while, briefly dipping below $7,000 a few times. At press-time, Bitcoin is sitting at $7,586 and some analysts are expecting it to head for the $9,550 area soon.

“Targeting $9,550 easily”

Crypto trader @IamCryptoWolf believes that Bitcoin is going to move higher on the charts and expects it to break through the $8,090 barrier, thus confirming the fact of getting out of the 7-month Falling Wedge pattern. He optimistically writes:

“Bulls will step in aggressively targeting 9550 easily.”

BTC 2
Image via Twitter

“Signal of likely continuation up”

Another crypto trading expert, Scott Melker, says he had taken a speculative long when the BTC price was sitting at $7,350, seeing a potential bullish divergence. Now, he says that there is a ‘signal of likely continuation up’.

“I'm expecting $9,400”

Analyst and trader @CryptoMichNL has pointed out that the top coins of the market have finally started moving, including XRP (which has posted gains of nearly 9 percent on the news from Binance). The expert further tweets that if Bitcoin breaks through the $7,600-$7,800 level, it is likely to reach $9,400 too.

However, he states that before it happens, the price may slump to $7,200 briefly.

BTC price 1
Image via Twitter

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“Back to full steam after these calm days”

Other analysts and investors also seem bullish on the major coin. The Blockfyre co-founder, Simon Dedic, bullishly tweets that ‘the market in general seems to stabilize and slightly increase’.

Crypto trader @TheCryptoDog has put it simply:

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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.

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