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    Bitcoin Price (BTC) Signaling Bullish Continuation Above $9,000

    Bitcoin price is gaining traction from the $8,220 support base. BTC to USD is currently trading above $8,650 and it is likely to accelerate above the $8,780 and $8,950 resistance levels in the near term.

    Key Takeaways: BTC/USD

    • Bitcoin price is rising and trading nicely above the $8,600 pivot level against the US Dollar.
    • BTC/USD is following an ascending channel with support near $8,650 on the 2-hours chart (data feed from Bitstamp).
    • Ethereum is also rising and it is about to break the $170 resistance area.

    Bitcoin Price Analysis

    In the past few sessions, bitcoin price followed a bullish path from the $8,300 support area. BTC to USD surpassed a couple of important resistances near the $8,520 and $8,650 levels to start the current increase.

    Looking at the 2-hours chart, bitcoin even settled above the $8,650 level and the 50 simple moving average (2-hours, purple). The bulls were able to push the price above the 61.8% Fib retracement level of the key slide from $8,789 to $8,217.

    It is now gaining pace above the $8,700 level. Besides, the price is trading nicely above the 76.4% Fib retracement level of the key slide from $8,789 to $8,217.

    Therefore, bitcoin price is likely to climb above the $8,780 and $8,810 resistance levels. In the mentioned case, the price could reach the $8,923 level since it is the 1.236 Fib extension of the mentioned slide.

    Any further gains could lead the price towards the $9,150 and $9,200 resistance levels. At the outset, the price is following an ascending channel with support near $8,650 on the 2-hours chart.

    If there is a downside break below the channel support, the price could start a downside correction below $8,600. The next major support is near the $8,570 level. However, the main support is now near the $8,480 level and the 50 simple moving average (2-hours, purple).

    Overall, bitcoin price is gaining momentum and it is likely to accelerate above the $8,780 and $8,950 resistance levels in the near term. Conversely, dips towards $8,570 or $8,480 could find a strong buying interest.

    Live Bitcoin (BTC) Price:

    1 BTC/USD =$9,950.4179 change ~ 3.14%

    Coin Market Cap

    $181.42 Billion

    24 Hour Volume

    $4.18 Billion

    24 Hour VWAP

    $9.79 K

    24 Hour Change

    $312.6657

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    Avatar
    Aayush J
    Aayush is a Senior Cryptocurrency Strategist and Forex Expert who has a decorated history of over a decade in FinTech Markets and IT industries. As a financial markets contributor and observer, his primary focus is on specializing and sharpening his skillset inside the Technical Analysis arena and is well known for his informative and entertaining analytical skills inside the Bitcoin, Etheruem and crypto asset markets.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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