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

  • 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.

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. Therefore, for more updates, just click on BTC price forecast to know further price momentum in the future by 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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