Bitcoin Aces the Market as It Hits $9,400 in Past 24 Hours

Bitcoin (BTC) News:

Bitcoin is currently trading true to its position as it takes a bullish leap at $9,263.64 on Coinbase. The price trend of Bitcoin against the US Dollar is showing an upward channel since the start of the year. The ongoing month has turned out to be dramatically awesome for the intraday investors in Bitcoin. The current trading price is supported by all the imminent moving averages. All the technical indicators appear bullish as the coin has even hit above $9,400 in the past 24 hours.

Bitcoin’s pleasant uptrend has infused growth in the global crypto market. The sentiments have turned out to be positive as BTC loyalists and lovers consider this to be an end to the bullish bias.

Having said that, we cannot ignore the uptrend forming and the BTC halving that is just a few months away.

Bitcoin Price Analysis:

Bitcoin News
BTC/USD Chart By TradingView

Taking a glance at the 30-day movement of the coin on a 4-hourly chart, we see that the coin has been aided with growth until it experiences a volatile breakdown. All the points attached to daily analysis predict a super bullish near-term as Bitcoin price retains support from 10-day, 50-day and 200-day daily averages. However, the 20-day Bollinger Bands laid are seen having a wide distance foreseeing volatility which can readily lead to a steep rise as well as all the factors remain in favor though.

The other indicators laid also confirm the bullish crossover as the intraday movement has been quite impressive. The MACD of BTC is above zero as it mounts and overrides the signal line or the bearish divergence of the coin.

The RSI of the coin is also acing in the overbought region at 68.99 as Bitcoin hits fresh 30-day high and nears to give a fresh 90-day high as well readily. Explore our forecast to know more about BTC prediction by our experts.

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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