• 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: Bitcoin Price Retests $27K Following Fed Rate Decision
  • 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: Bitcoin Price Retests $27K Following Fed Rate Decision
Bitcoin

Bitcoin Rallies 15% And It’s Now And Primed To Hit $9.5k: Technicals Show

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

Bitcoin is up more than 15% in a pre-halving rally against the US Dollar. BTC broke the key $8,000 resistance and the 100-day simple moving average to open the doors for $9,500 or $10,000.

  • Bitcoin is surging and it settled nicely above the $8,000 resistance pivot level against the US Dollar.
  • The price is gaining momentum above the 100-day simple moving average and it could test $9,500.
  • There is a major bullish trend line forming with support at $7,400 on the daily chart of the BTC/USD pair (data feed from Kraken).
  • The pair could correct in the short term, but dips remain well bid near $8,000.

Bitcoin Price Surging Towards $9,500 and $10,000

Yesterday, we discussed how bitcoin price could start a pre halving rally against the US Dollar. BTC price broke a few important resistance levels near the $8,000 zone to move into a strong uptrend.

The bulls gained strength above the $8,000 level and the 100-day simple moving average. There was a break above the 61.8% Fib retracement level of the last key decline from the $10,495 swing high to $3,931 low.

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!

Bitcoin cleared a connecting resistance trend line with resistance near $8,020 on the daily chart. It opened the doors for sharp rise and the price rallied above the $8,500 level. It tested the 76.4% Fib retracement level of the last key decline from the $10,495 swing high to $3,931 low.

Bitcoin Price
Bitcoin Price

Clearly, the bulls are in control, signaling a strong rise above the $8,800 and $9,000 resistance levels. The next major resistance is near the $9,500 level (a multi-touch zone).

Any further gains above the $9,500 resistance could start a convincing upward move towards the $10,000 resistance level in the near term.

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

Downside Correction?

The current rise in bitcoin could face hurdles near the $9,500 resistance level. If it starts a downside correction, there are many supports waiting on the downside starting with $8,500.

The first major support is near the $8,000 level (the recent breakout zone). There is also a major bullish trend line forming with support at $7,400 on the same chart. Overall, dips remain well supported on the downside if the price corrects lower from the current levels or $9,500.

Technical indicators:

Daily MACD – The MACD is currently gaining momentum in the bullish zone.

Daily RSI (Relative Strength Index) – The RSI for BTC/USD is now in the overbought zone.

Major Support Levels – $8,500 followed by $8,000.

Major Resistance Levels – $9,000, $9,400 and $9,500.

Tags: bitcoinbtcusd
Tweet123Share345ShareSend
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

Tron And HT Plummets

Tron (TRX), Huobi Token (HT) Plummet Nearly 10% In A Day, Here’s Why

5 hours ago
Bitcoin

Bitcoin Back Above $27,600 As US Banking Crisis Is Far From Over

8 hours ago
AVAX Price Could Rally

AVAX Price Prediction: Avalanche Bulls Aim $20 or Higher

11 hours ago
Ethereum Price

Ethereum Price Just Saw Key Technical Correction But Key Support Intact

11 hours ago
Bitcoin

Bitcoin Price Corrects But Uptrend Is Still Intact and BTC Could Rally Again

12 hours ago
Bitcoin Price Retests $27K Following Fed Rate Decision

Bitcoin Price Retests $27K Following Fed Rate Decision

20 hours ago

Premium Partners

Play Finance

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

TMS Network (TMSN) Presale Success Stirs Markets While Experts Advise To Be Cautious With Conflux (CFX) And Ravencoin (RVN)

March 23, 2023

Solana (SOL) Price Prediction; TMS Network ICO (TMSN) And Avalanche (AVAX) Shines

March 23, 2023

Cryptocurrencies To Get Before April 2023 Ends: Conflux (CFX), yearn.finance (YFI) and TMS Network (TMSN)

March 23, 2023

ScalingX and Buidlbox Partner to Host “The Hunt for X” Zero-Knowledge Tech Hackathon

March 22, 2023

Why is Avorak AI Pumping? – a Guide To AI Cryptos, Fetch.ai, SingularityNET, And More

March 22, 2023

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.