NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Bitcoin is About to Make a Move Towards $10K; Analyst Explains Why

Yashu Gola
Yashu Gola
1 year ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

  • Bitcoin’s recent jump above $9,500 has increased its probability of testing $10,000 in the coming sessions, according to an analyst.
  • He also noted that traders would first target $9,785 as their interim resistance level.

Bitcoin leaped over the $9,500-mark on Wednesday and it now eyes extended its bullish momentum into the six-figure region.

The benchmark cryptocurrency rose 1.89 percent to hit $9,567.77 on Coinbase crypto exchange. The gains came as a part of an upside rally that started this Tuesday. On the day, Bitcoin broke above $9,300 after consolidating sideways in a $150-wide trading range for almost two weeks.

bitcoin, cryptocurrency, btcusd, xbtusd, btcusdt, crypto

Bitcoin price breaks above $9,500 for the first time in a month. Source: TradingView.com

Traders treated the jump as a breakout move, with some of them expecting that the BTC/USD exchange rate would extend its momentum higher. Ronnie Moss, the founder of Standpoint Research – a crypto-focused investment management firm, even stated that the pair would hit $28,000 by 2021.

An analyst, on the other hand, limited his upside call to $10,000, a level Bitcoin has repeatedly failed to hold as support since February 2020.

A Short-Term Setup

The analyst showed Bitcoin breaking above a Descending Trendline with a top dating back to June 1. So far, the cryptocurrency traded below the downward slope, witnessing a higher selling pressure among traders. Nevertheless, its invalidation allowed the analyst to envision BTC/USD at higher but interim price levels.

“Downtrend broken and looking to flip recent highs of $9.5k into support is bullish for me,” he said this Thursday. “Weary that we are still in an 84 day range and breaking $10k-$10.5k is when I turn full bull.”

bitcoin, cryptocurrency, btcusd, xbtusd, btcusdt, crypto

But a move into a six-figure range would require more effort from bulls. The analyst stated that BTC/USD still has to cross above a critical technical resistance level at $9,785. It is the same price ceiling that – on June 22 and June 23 – kept BTC/USD from logging a breakout move towards $10,000.

“Next resistance for me is swing highs of $9785,” the analyst confirmed.

Supportive Fundamentals

The bullish technical outlook drew further inspiration from a supportive macroeconomic outlook. BTC/USD rise this week also came in the wake of an underperforming US bonds market.

In retrospect, real yields on the 10-year US Treasury – adjusted inflation – slipped into the negative area on Wednesday. The plunge came as investors expected the Federal Reserve to continue its monetary policy and keep the benchmark rate near zero.

That lifted the appeal of government bonds to investors seeking higher yields, a sentiment that helped to raise bids in Bitcoin, stocks, silver, and gold markets.

BTC also rose as the United States Office of the Comptroller of the Currency allowed regional banks to offer cryptocurrency custody services to institutional clients.

Tweet123Share196ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

2020牛市模式7月升浪再現 分析師示警行情爆發BTCBULL成百倍幣首選!

2025年7月,加密貨幣市場正處在一個關鍵轉折點。資深分析師TechDev在社交平台X上向超過53萬粉絲發出強烈信號,指出目前的市場狀態極度類似於2020年牛市爆發前的技術格局。他通過TOTAL2圖表...

Peter Chow 2 hours ago
Dogecoin (DOGE) Bounces Off Lows

Dogecoin (DOGE) Bounces Off Lows, But $0.180 Cap Remains A Challenge

Dogecoin started a fresh increase above the $0.1650 zone against the US Dollar. DOGE is now consolidating and might aim...

Aayush Jindal 3 hours ago
bitcoin

Bitcoin Realized Dominance Signals Weak Hands Capitulating, Strong Hands Rising

As Bitcoin (BTC) continues to trade within striking distance of its all-time high (ATH), a noticeable shift is underway in...

Ash Tiwari 3 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Ethereum, ETH, Crypto

Ethereum Eyes Key Resistance As Price Reclaims $2,550 – Here Are The Levels To Watch

Rubmar Garcia 35 minutes ago
Bitcoin

Bitcoin Short-Term Upper Bound Is $117,000, Glassnode Says

Keshav Verma 1 hour ago
Whales Are Quietly Repositioning, Here’s What Bitcoin’s $107K Price Isn’t Telling You

Whales Are Quietly Repositioning, Here’s What Bitcoin’s $107K Price Isn’t Telling You

Samuel Edyme 2 hours ago

Premium Sponsors

Press Releases

  • 1 най-добра криптовалута за купуване преди да поскъпне с 2200%, според Кати Ууд

    1 най-добра криптовалута за...

    1 hour ago
  • 1 Najlepšia kryptomena na kúpu predtým

    1 Najlepšia kryptomena na kúpu predtým, než vzrastie o...

    9 hours ago
  • O criptomonedă de top de cumpărat înainte să crească...

    10 hours ago
  • Szukasz najlepszych kryptowalut do zakupu w 2025 roku

    Szukasz najlepszych kryptowalut do zakupu w 2025 roku? Oto...

    11 hours ago
  • Best Crypto Payment Gateway for Trading in 2025

    14 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

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.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 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.