NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30

Chances Are, Bitcoin Will Soon Explode 20% Higher to $8,000: Here’s Why

Nick Chong
Nick Chong
1 year ago
2 mins read
btcusd price bullish

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Despite the brutal crash seen earlier this month, Bitcoin has performed extremely well over the past few days, rallying from the $5,000s to a price as high as $7,000 just the other day. The bullish momentum has petered out over the past few days, with BTC stalling in the mid-$6,000s, but a simple technical factor suggests that the cryptocurrency will soon resume its rally higher.

Related Reading: House Democrats Propose ‘Digital Dollar’ in Move Big For Bitcoin: Here’s Why

Bitcoin Could Soon Rally Towards $8,000: Simple Technical Factor

The rally over the past few days has not gone unnoticed; traders have seen the cryptocurrency tick over support level after support level as it has gained.

Indeed, prominent trader Byzantine General recently commented on the bullish importance of the rally over the past few days, stating in a message published to his Telegram channel that:

“Something I’ll keep in mind: We reclaimed the basis of the daily BB. Usually, when BTC does that it tags the top of the bands.”

What he’s saying is that since Bitcoin has claimed the middle Bollinger Band on the daily chart as support, it has a high likelihood of rallying to the top of the indicator’s range, which will soon be around $8,000.

Furthermore, since the (short-term) stock market bottom that was seen just last week, the Dow Jones Index has rallied 20% higher, entering a “bull market” by the textbook definition of the term. Analysts say that in these times, the correlation between the S&P 500 and Bitcoin is growing tighter, suggesting that further strength in equities could wrest the Bitcoin higher as investor confidence returns.

Under Key Resistance

Although Byzantine General sees a move towards $8,000, his chart shows that’s where the rally likely stops. And that’s for good reason.

Per previous reports from NewsBTC, Bitcoin trader Filb Filb explained that $8,000 is the price point at which there is where there is the worst cluster of resistance seen since the bear market of 2018”:

  • The 200-day moving average.
  • The 100-day moving average.
  • The 50-day moving average.
  • The 20-month moving average.
  • Bitcoin’s 61.8% Fibonacci Retracement of the February high to the $3,800 bottom.
  • And the yearly pivot level.

filb filb bitcoin resistance

The fact that all these levels are currently situated at $8,000 suggests it won’t be easy for buyers to break through that level in one go.

Related Reading: Bitcoin Price Still Following Exact Pattern That Marked 2018’s $3,000 Bottom
Featured Image from Shutterstock
Tweet123Share237ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Ethereum news

Ethereum Will ‘Likely 100x From Here,’ Says Joe Lubin

Ethereum co-founder and ConsenSys CEO Joseph Lubin ignited ETH discourse on August 30 with an unusually expansive thesis about the...

Jake Simmons 3 hours ago
Bitcoin price crash

Pundit Calls Bitcoin Price Crash Below $93,000, Reveals Bear Targets From Here

After hitting a new all-time high last month, the Bitcoin price has since retraced by more than 10%, crashing below...

Scott Matherson 4 hours ago
xrp-breakout-trigger-100x-altcoin-launch-tw

XRP價格臨界爆升技術測試點 這個百倍山寨幣是否已經開始啟動?

XRP正處於技術面與基本面雙重壓力下,短期內價格走勢陷入下行通道。當前報價為2.81美元,24小時交易量達70億美元,市值排名第四,約為1668.9億美元。在連續無法有效站穩3.00美元之上後,市場懷...

markh 7 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

bitcoin koers, bitcoin crash, bitcoin daling, wat gaat bitcoin doen, bitcoin zakt

Bitcoin koers analyse – staat BTC klaar voor een crash onder $100K?

Lars Diederiksen 7 minutes ago
Ethereum

Whales Load Up On Ethereum, But Analysts Fear $4K Dip Ahead

Christian Encila 1 hour ago
bitcoin

Μπορεί το Bitcoin να επιστρέψει στις $120.000; Τι δείχνουν οι κινήσεις στην αγορά

Ιωάννης Ριζόπουλος 1 hour ago

Premium Sponsors

Press Releases

  • Best -altcoins

    Ba Altcoin Bị Bán Quá Mức Nên Mua Khi Ethereum Lập...

    7 minutes ago
  • Aceste 3 Altcoinuri Explodează în Sezonul Actual – Bitcoin Hyper, Maxi Doge și Wepe SOL ar putea fi următorii generatori de milionari

    Aceste 3 Altcoinuri Explodează în Sezonul Actual –...

    19 minutes ago
  • 3 Altcoin Đang Bùng Nổ Mùa Altcoin Này

    3 Altcoin Đang Bùng Nổ Mùa Altcoin Này – Bitcoin...

    25 minutes ago
  • Pepenode.io

    Meme coin tiềm năng tiếp theo 100x? PEPENODE có thể...

    37 minutes ago
  • Prognoza cijene XRP-a: Stručnjaci je uspoređuju s...

    42 minutes ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.