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: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets
  • 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: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets

Why Analysts See Bitcoin Breaking Out of the $8,800 Resistance Level Very Soon

newsbtc
newsbtc
1 year ago
2 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.

Crypto analysts and investors have established the $8,800 resistance level as a short-term target for Bitcoin, based on the optimistic technical indicators of the dominant cryptocurrency.

Bitcoin Rally Ahead?

Most of the predictions on the short-term rally of Bitcoin originated from data provided by RIG trend lines — an indicator that combines the Relative Strength Index (RSI) and momentum studies. The RSI is intended to chart the current and historical strength or weakness of an asset based on the closing prices of a recent trading period.

The momentum gauge crossed the RSI, which likely indicates a positive price movement is imminent. Considering past instances, it’s worth noting that the last three times that these two gauges crossed this year Bitcoin’s price subsequently rose. When these two gauges crossed in mid-August, the cryptocurrency’s price rose by 21% over the next few weeks, according to Bloomberg.

The signs were first seen last week when Bitcoin lingered above a price and trend line which flashed a positive signal that typically forecasts future price moves. Looking back, since February the digital currency has tested levels near $6,000 five times, bouncing back each time. But, as noted above, the last few times that RIG trend lines were charted as they were today, the Bitcoin rallied.

Cryptocurrencies generally have have been trading lower most of this year due to factors like increased regulatory scrutiny, an uptick in government crackdowns, and fears that the mainstream adoption of digital currencies might take longer than some had anticipated.

Just last month the SEC dismissed requests to list nine cryptocurrency funds, citing continued concerns about manipulation, among other things. In addition, according to some analysts, the rise of investments in marijuana stocks has taken some attention away from Bitcoin and other cryptocurrencies.

All the while, last week, famed billionaire investor and founder of Galaxy Digital LP Mike Novogratz said the bottom was here. Novogratz, who has famously claimed to have 20% of his net worth in cryptocurrencies, stated that there are still key levels, like $8,800 and $10,000 for instance, that Bitcoin will need to breach before really moving out of this bear market.

According to Novogratz, once Bitcoin passes the aforementioned price levels — which are important in terms of their technical, fundamental, and physiological values— and we continue to see an influx of institutional investment, “the sky’s the limit.” 

Moving forward, he added that Bitcoin could reach as high as $ 50,000 by the end of this year. If that happens, the current price of Bitcoin (sitting below $9,00o) would see a more than fivefold increase. 

Tweet123Share680ShareSend
newsbtc
newsbtc

newsbtc

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

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

Ethereum

BlackRock Leads Spot ETH ETF Inflows With Over $500M, Ethereum Possibly On Track To $5,000

Ethereum’s institutional narrative is strengthening as US-based Spot ETF trackers witnessed another week of inflows last week. BlackRock’s ETHA fund...

Scott Matherson 7 hours ago
Ethereum

Ethereum Taker Buy-Sell Ratio Falls Critically Low—What Happened Last Time?

The price of Ethereum had quite a rough performance over the past week, falling from its usual range above the...

Opeyemi Sule 9 hours ago

Bitcoin aproape de 120.000$ – vine un nou ATH?

După ultimul ATH de la mijloc de august, când Bitcoin a atins 124.500$, a urmat o corecție ce a venit...

antonio 9 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

XRP

Ripple CTO Drops Bombshell: XRP At The Core Of Trillions In Banking Future

Christian Encila 2 hours ago
XRP

XRP Needs To Defend $2.98 Support To Avoid Deeper Correction – Details

Scott Matherson 3 hours ago
Bitcoin

Bitcoin Price On The Verge Of Explosive Move: Here’s The Only Condition

Opeyemi Sule 5 hours ago

Premium Sponsors

Press Releases

  • パイネットワーク...

    1 day ago
  • Cele mai bune altcoin-uri de cumpărat, pe măsură ce prețul Solanei se apropie de maximul istoric

    Cele mai bune altcoin-uri de cumpărat, pe măsură ce...

    2 days ago
  • Cele mai bune meme coin-uri de cumpărat acum, pe măsură ce capitalizarea pieței se apropie de 1,9 trilioane RON

    Cele mai bune meme coin-uri de cumpărat acum, pe măsură...

    2 days ago
  • Cele mai bune meme coin-uri de cumpărat acum, pe măsură ce capitalizarea pieței se apropie de 1,9 trilioane RON

    Nejlepší meme coiny k nákupu nyní, když se tržní...

    2 days ago
  • Cele mai bune altcoin-uri de cumpărat, pe măsură ce prețul Solanei se apropie de maximul istoric

    Nejlepší altcoiny k nákupu, když se cena Solany...

    2 days ago

Newsletter

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.