Bitcoin Price Predicted to Move Up in $10,000 Region by Prominent Crypto Trader

News
Wed, 10/30/2019 - 07:59
Alex Dovbnya

Both sides are playing tug-of-war once again, but Josh Rager believes that the bulls might push the BTC price above $10,000

Cover image via www.123rf.com
Contents

Cryptocurrency trader Josh Rager has just shared his fresh take on the Bitcoin price action while the top coin keeps see-sawing in the $10,000 range. 

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Bitcoin is gearing up to touch $10,000

If the top coin surges above the resistance level at $9,600, it would potentially open the doors for the $10,000 level, Rager believes. However, this bullish scenario will be invalidated if BTC breaks below the $8,700 support level. 

Following Bitcoin's headline-grabbing price jump on Oct. 25, it has been struggling to make a decisive move in either direction. Any attempt to break out of the "hundred dollar range" has been instantly rejected so far. As of now, the top coin is sitting at $9,235 after a 2.30 percent drop over the last 24 hours. 

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A prescient indicator turns bullish

In other news, Coindesk's Omkar Godbole noticed that Bitcoin's three-day MACD chart turned green for the first time in three months. 

image by coindesk.com

This is a major price indicator that allowed traders to accurately spot the bottom in late December 2018 after the BTC price plummeted to $3,100. Hence, there is a good chance that BTC is ready for a bullish break out that would allow it to reclaim its yearly high of $13,800. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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