• 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 Technical analysis

Bitcoin (BTC) Price Defies Gravity: Next Bullish Break Could Hit $10K

Aayush Jindal by Aayush Jindal
2 years ago
in Technical analysis
Reading Time: 2min read
technical analysis bitcoin
Advertisement
  • Bitcoin price corrected lower sharply after trading to a new yearly high at $9,390 against the US Dollar.
  • The price remained well bid and it is back above the key $9,000 pivot level.
  • There is a crucial bullish trend line forming with support near $8,780 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair is likely to break the $9,260 and $9,300 levels to start the next bullish wave in the near term.

Bitcoin price surged higher above $9,000 and $9,300 against the US Dollar. BTC is currently gaining strength and it is likely to climb further above $9,400 and $9,500.

Bitcoin Price Analysis

In the past few days, bitcoin price consistently gained pace above $8,800 against the US Dollar. The BTC/USD pair did hit our most bullish targets, including $9,000 and $9,200. It even broke the $9,300 level and settled well above the 100 hourly simple moving average. The recent bullish wave took the price close to the $9,400 level and a new yearly high was formed at $9,392.

After trading as high as $9,392, there was a sharp downside correction. It spiked below the $9,100 and $9,000 levels. However, there was a quick reversal and the price settled above $9,000. Moreover, it climbed above $9,200 and recently formed a swing high at $9,255. It is currently correcting lower and tested the $9,150 level. The 23.6% Fib retracement level of the recent rally from the $8,830 low to $9,255 high is also near $9,155.

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

On the downside, there are many supports near the $9,100 and $9,050 levels. The main support is near $9,040 and the 50% Fib retracement level of the recent rally from the $8,830 low to $9,255 high is also near $9,155. If there are more downside, the price could revisit the $9,000 support. Besides, there is a crucial bullish trend line forming with support near $8,780 on the hourly chart of the BTC/USD pair.

On the upside, an initial resistance is near the $9,250 and $9,300 levels. If there is an upside break above $9,300 and a connecting bearish trend line, there could be more upsides. The next key resistances are near $9,400 and $9,500.

Bitcoin Price Analysis BTC Chart

Looking at the chart, bitcoin price clearly recovered above $9,100 after a sharp downside correction. It is now trading nicely above $9,150 and it is likely to climb further above $9,300, $9,400 and $9,500 in the coming sessions. The main target this week could be $10,000.

Technical indicators:

Hourly MACD – The MACD is about to move back in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently well above the 50 level.

Major Support Levels – $9,040 followed by $9,000.

Major Resistance Levels – $9,300, $9,400 and $9,500.

Tags: bitcoinbtc
TweetShare
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

Ethereum

TA: Ethereum Lacks Momentum Above $1,550, Why Dips Likely To Be Limited

1 hour ago
Bitcoin

TA: Bitcoin Holding Gains, Why BTC Could Surge Above $50K

3 hours ago
bitcoin bear trap dollar dxy btc

Bitcoin Shakes Off Dollar Rebound But Beware Of Coming Bear Phase

5 hours ago
ethereum showtime alt season

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

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

Rare Homer Simpson Pepe NFT Sells For $312k

21 hours ago
Binance Coin Price

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

23 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.