Price Analysis

Bitcoin Price (BTC) Trades Above $10,500: Gives Sigh of Relief and Eyes Even Higher Targets

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  • Price of Bitcoin trades above $10,500, clearing major resistance one by one and gets closer to eyeing $11,000 soon.
  • BTC price now trades above its short-term moving averages and is well supported by the same.
  • Bitcoin now gives a bullish and a recovering crossover as well.

Bitcoin price rightly eyes $11,000 as it crosses $10,500 in the past 24- hours. The other performing altcoins have also started gaining from the previous week’s dip. BTC/USD shows an impressive bullish crossover as it traded beyond its key resistances at $10,000 and $10,500 now. The recent bullish crossover has taken the coin to trade around $10,700 at $10,795.00.

BTC to USD Price Chart by TradingView:

The below Bitcoin price chart is a data feed taken from Coinbase at 04:19 UTC as on 4th September.

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Bitcoin (BTC) Price
BTC Price Chart by TradingView

Yesterday, BTC/USD was trading around $10,432.88 in the initial hours of the day. With a 3.47% spike it ranged well above $10,500 clearing the key resistance and traded at $10,795.00. Later the day went ahead with a flat trade and even went as low as $10,442.77 giving a plunge of 3.26%. Currently the coin is well above $10,600 at $10,609.99 by 1.60% from the latter price mark.

This dominion has also led to an escalation in the market cap value from the time BTC price mounted above $10,000 and $10,500 as well.

Technical Indicators:

After having a pale week, Bitcoin is now testing its major resistances rather than major support prices. Also, now it is subsequently trading at comparatively higher price marks, BTC has even went beyond $10,700 but couldn’t sustain and therefore just created a mirage of the upcoming and most awaited price rally.

Getting a rooted support from the short-term and now even the long-term moving averages, BTC is notably higher by 4.13%, 5.82% and 1.80% from 10-day EMA ($10,188.24), 10-day SMA ($10,026.41) and 50-day SMA ($10,421.59).

The MACD of the coin remains below zero but has a bullish crossover as the MACD line crosses the signal line and RSI is placed well above 50 without showing extremities at present.

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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