• 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
  • Gamble +Try
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
  • Gamble +Try
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Technical analysis

Bitcoin (BTC) Price Primed To Rally Significantly Above $10K

Aayush Jindal by Aayush Jindal
2 years ago
in Technical analysis
Reading Time: 2min read
bitcoin price rockets higher btc
Advertisement
  • Bitcoin price gained traction and broke the key $9,400 resistance area against the US Dollar.
  • The price is currently climbing higher and it is likely to break the key $10,000 resistance.
  • There is a major bullish trend line forming with support near $9,480 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair is likely accelerate gains once it clears the key $10,000 resistance area.

Bitcoin price is up more than 5% and it broke the key $9,500 and $9,700 levels against the US Dollar. BTC is likely to accelerate gains above $10,000 and $10,500 in the near term.

Bitcoin Price Analysis

Yesterday, we discussed the chances of more gains above $9,400 in bitcoin price against the US Dollar. The BTC/USD pair did gain momentum and broke the $9,400 and $9,500 resistance levels. It even cleared the key $9,700 resistance and settled well above the 100 hourly simple moving average. A new 2019 high was formed above $9,800 near $9,814.

At the moment, the price is consolidating gains above the $9,700 level. An immediate support is near the $9,700 level. The 23.6% Fib retracement level of the recent move from the $9,295 low to $9,814 high is also near $9,700. The current price action is positive and suggests more gains above the $9,800 and $9,850 levels.

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

If there is a downside extension, the price could test the $9,550 support. It represents the 50% Fib retracement level of the recent move from the $9,295 low to $9,814 high. Moreover, there is a major bullish trend line forming with support near $9,480 on the hourly chart of the BTC/USD pair. As long as the pair is above the trend line support, it could climb further higher towards $10,000. The 61.8% Fib retracement level of the recent move from the $9,295 low to $9,814 high is also near the $9,490 level.

Bitcoin Price Analysis BTC Chart

If there is a successful close above $10K barrier, the price might rally significantly. The next stop for the bulls are likely to be near $10,600 or $10,800, followed by $11K.

Looking at the chart, bitcoin price is clearly gaining momentum above $9,650 and $9,700. There are high chances of an upside extension and spike above $10K in the coming sessions. If the price is rejected near the $10K level, there could be a major downside correction. If not, the bulls are likely to push the price towards the $10,600 or $10,800 level.

Technical indicators:

Hourly MACD – The MACD is currently placed nicely in the bullish zone.

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

Major Support Levels – $9,700 followed by $9,550.

Major Resistance Levels – $9,800, $9,950 and $10,000.

Tags: bitcoinbtc
TweetShare347
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

Cardano (ADA)

Charted: Cardano (ADA) Holding Crucial Support, Why It Could Surge Again

10 hours ago
Ethereum

TA: Ethereum Bears Keep Pushing, Why ETH Could Face Hurdles Near $1,500

12 hours ago
Bitcoin

TA: Bitcoin Price Recovers, Why BTC Could Struggle Near 100 SMA

14 hours ago
Ethereum

Ethereum Gains Bearish Momentum, Why ETH Could Test $1,280

1 day ago
Bitcoin

Why Bitcoin Price Could Extend Its Decline To $41K, 100 SMA Holds The Key

2 days ago
bitcoin bid side macro

Bid Side In Bitcoin Disappears Amidst Jittering “Macro Environment”

3 days 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

Seascape Network Officially Debuts on Binance Smart Chain

March 1, 2021

What Will Happen to Oil Production and Distribution in 2021, and How Can You Make a Profit on It

February 28, 2021

Bitcoin Gaming Platform FreeBitco.in Acquires 3.75 Billion FUN Tokens

February 26, 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
  • Gamble +

© 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.