Bitcoin Price Analysis: BTC is All Set to Reclaim $10,000 Again, Though with Stability this Time
- Bitcoin is gearing up for a bull-run, shows positive signs
- BTC has recently topped $10,000; may rally further
- Bitcoin has recently formed a support near $9800, technical picture appears bullish
- A stable surge above $$10,600 is a must for a notable price leap
Bitcoin investors can brace themselves as the BTC price rally is finally taking place. The leading crypto-coin has just hit the psychological price barrier of $10,000 and is continuing to trade bullishly against U.S.Dollar. The technical picture is also confirming the bull-run ahead.
Bitcoin was at $9881.51 at 07:45 UTC and it strongly surged above $10,000 within 1 hour and 50 minutes with an increase of 2.49%. The coin corrected down a bit but remained above $10,000 before again reaching up to $10,126.59. Here, the coin took a steady fall to $9800.72 with a price decline of 3.22%.
BTC has again escalated above $10,000 and is at $10,111.39 at 11:47:15 UTC. The coin has increased by more than 2% in the last 4 hours.
BTC/USD Price Chart
Bitcoin’s current price is 8.19% below its 100-day SMA of $11013.55. The Short term SMA line shown in the chart (9-days) is about to move above the long term SMA line (100-days), which points out to the bullish phase at the moment. MACD chart’s movement also resonates with the same. Although despite the positive signs, BTC is under selling pressure.
Bitcoin Price Prediction & Technical Indicators:
Bitcoin’s MACD chart appears in the bearish zone but is having its MACD line above the Signal line. RSI for the coin is near 60 showing stability. As per BTC forecast, BTC price may see next resistance at $10,607.53 and support at $9,845.44.
