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• The next mid-term targets for Bitcoin is $10400 resistance, $9200 may come as support.
Bitcoin continued to show strength after claiming $9800 (Bitfinex) yesterday, though the market has since remained stable around this mentioned price. Bitcoin is gathering momentum for another move. This time, $10000-$10400 would be the next hit on the upside. An inverse move could slip price at $9400 or even $9200 before bouncing back. However, the future still looks bright for long-term traders and investors.
Cov qib yuam sij: $ 10000, $ 10400
Qib yuam kev: $ 9200, $ 8800
Bitcoin (BTC) Kev Tshawb Fawb Nqi: Daim Ntawv Qhia Txhua Hnub - Bullish
Bitcoin is trading in a rising wedge following early January breakout from a long descending channel. This positive sentiment was footed by an inverse head-and-shoulder pattern, as shown on the daily chart. Bitcoin currently trades around the wedge’s resistance, which suggests a potential pullback. Support is located at $9200, on the wedge’s lower boundary.
In case Bitcoin continues to climb, the next level of resistance to watch out for is $10000, followed by $10400 – where the grey zone lies. If Bitcoin breaks below the wedge boundary, we can expect the market to drop into the blue support area for a rebound. As it stands now, Bitcoin is very bullish.
Bitcoin (BTC) Kev Tshawb Fawb Nqe: 4H Daim Ntawv Cim Qhia - Bullish
Bitcoin continues to keep a wedge formation, but it appeared that this bullish pattern may soon collapse. As we can see, Bitcoin’s volatility is becoming low as price approaches a tight angle. After surging from a 7 days consolidation cycle, BTC has remained in a squeeze over the past few hours now. However, there’s still more room to climb at $10000.
Meanwhile, Bitcoin’s price is stuck at around $9800 since yesterday. If this price level continues to prove difficult for the bulls to overcome, the price of BTC could drop to the blue support area of $9200 before gaining momentum back higher. It would become worrying for the bulls if Bitcoin drops below this mentioned support zones. Nonetheless, the bullish sentiment is still valid on the 4-hours chart.
BITCOIN MUAS HIAV TXWV
Muas: $ 9777
TP: $ 9911
SL: $ 9500
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