• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Binance Sees $218 Million In Outflows Following CFTC Lawsuit
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Binance Sees $218 Million In Outflows Following CFTC Lawsuit

Bitcoin Smashes Key Resistance: Here’s Why BTC Could Revisit $10,000

Aayush Jindal by Aayush Jindal
3 years ago
in Bitcoin, Technical analysis
Reading Time: 2 mins read
Advertisement
Advertisement

Bitcoin is up more than 3%, and it broke the key $9,500 resistance against the US Dollar. BTC is currently trading in a positive zone, and it could continue to rise towards $10,000.

  • Bitcoin is up over $300, and it broke a few significant hurdles near $9,500.
  • The price traded close to the $9,800 resistance zone, and it settled above the 100 hourly simple moving average.
  • There is a crucial bullish trend line forming with support near $9,600 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could correct in the short-term, but dips remain supported for a push towards $10,000.

Bitcoin Price Gains Bullish Momentum

Yesterday, we discussed 3 key reasons why bitcoin price could surge above $9,500 against the US Dollar. BTC did gain bullish momentum and it broke many hurdles near $9,400 and $9,500 to move into a positive zone.

There was a close above the $9,500 resistance and the 100 hourly simple moving average. The price traded to a new weekly high at $9,779 and recently started a downside correction.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

It traded below the $9,700 and $9,680 levels. Besides, there was a break below the 23.6% Fib retracement level of the recent wave from the $9,282 low to $9,779 high. Bitcoin price tested the $9,600 region, where it found a strong buying interest.

Bitcoin Price

Bitcoin Price Breaks $9,500: Source: TradingView.com

More importantly, there is a crucial bullish trend line forming with support near $9,600 on the hourly chart of the BTC/USD pair. If the price breaks the trend line support, it could test the $9,530 level or the 50% Fib retracement level of the recent wave from the $9,282 low to $9,779 high.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

On the upside, an initial resistance is near the $9,700 level. The main resistance is now near the $9,800 level, above which the price is likely to test the $9,950 and $10,000 resistance levels in the near term.

Dips Supported in BTC

On the downside, there are many supports forming, starting at $9,600. The key uptrend support is now near the $9,500 level (the recent breakout zone).

If bitcoin declines below the $9,500 support, it could continue to move down towards the $9,350 level or the 100 hourly simple moving average in the coming sessions. Any further losses could lead it towards the $9,282 swing low.

Technical indicators:

Hourly MACD – The MACD is currently losing momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now correcting lower from well above the 70 level.

Major Support Levels – $9,600, followed by $9,500.

Major Resistance Levels – $9,700, $9,800 and $10,000.

Tags: bitcoinbtcusdBTCUSDTxbtusd
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets.

Related Posts

ripple

Ripple Releases 1 Billion Tokens From Escrow, XRP Declines By 5%

13 hours ago
Bitcoin uptrend

Bitcoin Market Structure Points To New Uptrend, Here’s Why

1 day ago
Bitcoin

Bitcoin (BTC) To Tap Into $30,000 Region Before A Slow Down, Here’s Why

1 day ago
US To Sell 41,500 Bitcoin (BTC) In Four Batches, Crash Inevitable?

US To Sell 41,500 Bitcoin (BTC) In Four Batches, Crash Inevitable?

1 day ago
Bitcoin

Bitcoin Bear Market Over? This Historic On-Chain Signal Suggests So

1 day ago
Bitcoin

Bitcoin Investors Remain Greedy Despite Low Momentum, Why?

1 day ago

Premium Partners

Play Finance

Trending Projects

  • 4 Best Upcoming ICO For 2023

    1 week ago
  • Crypto Investment for Long Term Growth in 2023

    1 week ago
  • 5 Cryptocurrency To Invest In 2023

    1 week ago

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
  • Ripple XRP Price Prediction 2023 – 2025 plus 5 Tokens...

    4 hours ago
  • Ethereum Price Prediction 2023 – Why This New Meme...

    8 hours ago
  • Discover Big Eyes Coin And Optimism As They Continue To...

    11 hours ago
  • Ethereum’s Shanghai Upgrade Goes Live April 12...

    11 hours ago
  • Metacade’s Presale Raises an Astounding $15.4m...

    12 hours ago

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.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins
  • Play Finance

© 2022 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.