• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Buy SilverTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Buy SilverTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Bitcoin

Bitcoin at a Critical Juncture: Here’s Why $9K Is the Most Important Level For Bulls

Aayush Jindal by Aayush Jindal
10 months ago
in Bitcoin, Technical analysis
Reading Time: 2min read
Bitcoin
Advertisement

Bitcoin is attempting to start a fresh increase above $9,000 against the US Dollar. BTC price could either rally above $9,000 or start another decline towards $8,400.

  • Bitcoin is facing a major resistance near the $9,000 and $9,020 levels.
  • The price is trading above the 100 hourly simple moving average, but struggling to gain momentum.
  • There is a crucial bearish trend line forming with resistance near $8,945 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could either start a strong rally above $9,000 or it might dive back to $8,400.

Bitcoin is Approaching Next Key Break

Yesterday, bitcoin failed to stay above the $9,000 level and resumed its decline against the US Dollar. BTC price traded below the $8,800 support and revisited the $8,580 support area, where the bulls took a strong stand.

A new weekly low is formed near $8,533 and the price recently started a fresh increase. There was a break above the $8,800 resistance level and the 100 hourly simple moving average.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Bitcoin price climbed above the 50% Fib retracement level of the downward move from the $9,209 high to $8,533 low. However, the price is facing a strong resistance near the $8,950 and $9,000 levels.

There is also a crucial bearish trend line forming with resistance near $8,945 on the hourly chart of the BTC/USD pair. The pair seems to be struggling to clear the 61.8% Fib retracement level of the downward move from the $9,209 high to $8,533 low.

Bitcoin
Bitcoin Price

The main resistance is near the $9,000 region. Therefore, BTC must break the trend line, $8,950, and the $9,000 barrier to start a strong rally in the coming sessions. The next key resistance is near the $9,200 level, followed by the $9,500 weekly resistance.

Downside Spike?

If bitcoin price fails to continue above the trend line resistance and $9,000, there are chances of a fresh decline. An initial support is near the $8,800 level and the 100 hourly SMA.

A successful close below the 100 hourly SMA might start a major decline towards the $8,580 and $8,540 support levels. The price could even spike towards the $8,400 support area before starting a fresh upward move.

Technical indicators:

Hourly MACD – The MACD is about to move back into the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently declining and approaching the 50 level.

Major Support Levels – $8,580 followed by $8,400.

Major Resistance Levels – $8,950, $9,000 and $9,200.

Tags: bitcoinbtcusd
TweetShare26
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? 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

bitcoin bear trap dollar dxy btc

Bitcoin Shakes Off Dollar Rebound But Beware Of Coming Bear Phase

2 hours ago
ethereum showtime alt season

Alt Season 2.0: Analyst Claims It’s “Showtime” For Ethereum

7 hours ago
Rare Homer Simpson Pepe NFT Sells For $312k

Rare Homer Simpson Pepe NFT Sells For $312k

18 hours ago
Binance Coin Price

Charted: Binance Coin (BNB) Gains Momentum, Why Dips Are Attractive

20 hours ago
Saylor Sees Bitcoin Regulation as Greenlight For More Institution Inflows

Saylor Sees Bitcoin Regulation as Greenlight For More Institution Inflows

22 hours ago
Ethereum

TA: Why Ethereum Close above $1,600 Could Stage A Strong Rally

22 hours ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

eToro and DS TECHEETAH Change Face of Sponsorship With Unique Profit Only Deal

March 2, 2021

Easyfi Network introduces Staked Derivative Assets Money Markets on Layer 2 DeFi

March 1, 2021

Seascape Network Officially Debuts on Binance Smart Chain

March 1, 2021

Newsletter Signup


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.

COMPANY

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

Technical Analysis

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

LINKS

Auto Trading Software ▸

Cryptocurrency news

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

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Buy Silver

© 2020 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.