Bitcoin price after a few weeks of price stabilization, today was able to record a relatively strong jump. The status of the one-day chart of this digital currency shows that the king of digital currencies is preparing to reach the $ 10,000 target.
Bitcoin prices are preparing for a strong jump after falling prices and reaching $ 8,800 support, according to the BBC News. Despite falling to $ 8,800, Bitcoin was still above the 100-day simple moving average (SMA100).As a result of maintaining this level, the price of Bitcoin was able to overcome important obstacles such as the resistance of 9,000, 9,300 and 9,400 dollars. In addition, the price of this digital currency was able to cross the corrective level of 23.6 percent. The level fell from $ 10,376 to $ 8,802 during the fall. Bitcoin is currently trading at $ 9,370.
http://s12.picofile.com/file/8402381892/Bitcoin_7_1024x486.png
On the other hand, the price of Bitcoin was able to cross the $ 9,350 resistance barrier; Breaking this barrier caused the downward trend line to break as well. Given the current situation, it can be said that buyers are operating in the market and fluctuations above $ 9,350 are largely under their control.
The $ 9,580 and $ 9,600 resistors are facing Bitcoin. These levels are close to the 50 percent correction level (which fell from $ 10,376 to $ 8,802). If the price of Bitcoin breaks and maintains the resistance of $ 9,600, the way to reach $ 10,000 will be paved in the coming days.
In the short term, prices are likely to fall below $ 9,320 and $ 9,300, respectively. If these levels are broken, the next stop may be in support of $ 9,200.
If this declining trend continues, there is a possibility of falling to the support range of $ 8,800 and a simple 100-day moving average. This range is one of the most important points on the chart, and breaking it can strengthen the downward trend in prices. If the price closes in the range below $ 8,800 and $ 8,600, the market pressure will increase and we may see the price of bitcoin reach $ 8,000 and even $ 7,800.
Currently, the MACD index is in an upward range in the daily time. The Relative Power Index (RIS) is well above 50. The main supports are $ 9,300 and $ 8,800, respectively. $ 9,580, $ 10,000 and $ 10,300 are also resisting
This analysis is my personal opinion. And as you know, no analysis is 100% correct.
be Lucrative &successful
be Lucrative &successful