{"id":382853,"date":"2019-05-19T05:08:54","date_gmt":"2019-05-19T05:08:54","guid":{"rendered":"https:\/\/wncen.com\/?p=382853"},"modified":"2024-06-11T12:52:18","modified_gmt":"2024-06-11T12:52:18","slug":"bitcoin-btc-price-weekly-prediction-rally-to-9000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-btc-price-weekly-prediction-rally-to-9000\/","title":{"rendered":"Bitcoin (BTC) Price Weekly Prediction: Indicators Suggest Rally To $9,000"},"content":{"rendered":"<ul>\n<li>There was a strong buying interest for bitcoin near the $6,800 support area against the US Dollar.<\/li>\n<li>The price started a fresh increase and broke the $7,000 and $7,500 resistance levels.<\/li>\n<li>There was a break above a major contracting triangle with resistance near $7,300 on the 4-hours chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair is eyeing a strong rise and it could trade above $8,500 and $8,800 in the near term.<\/li>\n<\/ul>\n<p><em>Bitcoin price is up more than 10% after a <a href=\"https:\/\/wncen.com\/2019\/05\/17\/bitcoin-btc-price-weakens-uptrend-intact\/\" target=\"_blank\" rel=\"noopener noreferrer \">strong downside correction<\/a> against the US Dollar. BTC is now eying further upsides and it could even test the $9,000 resistance area.<\/em><\/p>\n<h2>Bitcoin Price Weekly Analysis (BTC)<\/h2>\n<p>This past week, bitcoin price rallied significantly above the $7,000 resistance against the US Dollar. The BTC\/USD pair broke many barriers near $7,000, $7,200 and $7,800. The pair even surged above the $8,000 level and traded to a new 219 high near the $8,360 level. Later, there was a sharp downside correction below the $8,000 support, but the price stayed well above the 100 simple moving average (4-hours). It broke the $7,200 support area, but found a <a href=\"https:\/\/wncen.com\/2019\/05\/18\/bitcoin-btc-price-fresh-increase-likely\/\" target=\"_blank\" rel=\"noopener noreferrer \">strong buying interest<\/a> near the $6,650 and $6,800 levels.<\/p>\n<p>A swing low was formed at $6,645 and the price recently recovered nicely. It climbed sharply above the $7,000 and $7,200 resistance levels. Moreover, there was a break above the 50% Fib retracement level of the downside correction from the $8,362 high to $6,645 low. More importantly, there was a break above a major contracting triangle with resistance near $7,300 on the 4-hours chart of the BTC\/USD pair. The pair is now trading above the $7,700 resistance and the 61.8% Fib retracement level of the downside correction from the $8,362 high to $6,645 low.<\/p>\n<p>These all are positive signs and it seems like the price may continue to surge above the $8,000 barrier. The next key resistance above $8,000 is near the $8,350 level. If the bulls gains pace above $8,362 swing high, it will most likely open the doors for a sharp rally towards the $8,600 and $8,800 resistance levels.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Bitcoin-19.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-382854\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Bitcoin-19.png?resize=1828%2C868\" alt=\"Bitcoin Price Weekly Analysis  BTC Chart Prediction\" width=\"1828\" height=\"868\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Bitcoin-19.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Bitcoin-19.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Bitcoin-19.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Bitcoin-19.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Bitcoin-19.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Bitcoin-19.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Bitcoin-19.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Looking at the <a href=\"https:\/\/www.tradingview.com\/symbols\/XBTUSD\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">chart<\/a>, bitcoin price rebounded nicely after a strong decline towards $6,650. It is now up more than 10% and it seems like it could continue higher towards $8,200 and $8,500. The main target for the bulls in the coming sessions could be $8,800 or even $9,000. The key supports on the downside are near $7,500, $7,200 and $7,000.<\/p>\n<h2>Technical indicators<\/h2>\n<p>4 hours MACD \u2013 The MACD for BTC\/USD is gaining pace in the bullish zone.<\/p>\n<p>4 hours RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is back above 50 and it could continue towards 70.<\/p>\n<p>Major Support Level \u2013 $7,200<\/p>\n<p>Major Resistance Level \u2013 $8,350<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There was a strong buying interest for bitcoin near the $6,800 support area against the US Dollar. The price started a fresh increase and broke the $7,000 and $7,500 resistance levels. There was a break above a major contracting triangle with resistance near $7,300 on the 4-hours chart of the BTC\/USD pair (data feed from Kraken). The pair is eyeing a strong rise and it could trade above $8,500 and $8,800 in the near term. Bitcoin price is up more than 10% after a strong downside correction against the US Dollar. BTC is now eying further upsides and it could even test the $9,000 resistance area. Bitcoin Price Weekly Analysis (BTC) This past week, bitcoin price rallied significantly above the $7,000 resistance against the US Dollar. The BTC\/USD pair broke many barriers near $7,000, $7,200 and $7,800. The pair even surged above the $8,000 level and traded to a new 219 high near the $8,360 level. Later, there was a sharp downside correction below the $8,000 support, but the price stayed well above the 100 simple moving average (4-hours). It broke the $7,200 support area, but found a strong buying interest near the $6,650 and $6,800 levels. A swing low was formed at $6,645 and the price recently recovered nicely. It climbed sharply above the $7,000 and $7,200 resistance levels. Moreover, there was a break above the 50% Fib retracement level of the downside correction from the $8,362 high to $6,645 low. More importantly, there was a break above a major contracting triangle with resistance near $7,300 on the 4-hours chart of the BTC\/USD pair. The pair is now trading above the $7,700 resistance and the 61.8% Fib retracement level of the downside correction from the $8,362 high to $6,645 low. These all are positive signs and it seems like the price may continue to surge above the $8,000 barrier. The next key resistance above $8,000 is near the $8,350 level. If the bulls gains pace above $8,362 swing high, it will most likely open the doors for a sharp rally towards the $8,600 and $8,800 resistance levels. Looking at the chart, bitcoin price rebounded nicely after a strong decline towards $6,650. It is now up more than 10% and it seems like it could continue higher towards $8,200 and $8,500. The main target for the bulls in the coming sessions could be $8,800 or even $9,000. The key supports on the downside are near $7,500, $7,200 and $7,000. Technical indicators 4 hours MACD \u2013 The MACD for BTC\/USD is gaining pace in the bullish zone. 4 hours RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is back above 50 and it could continue towards 70. Major Support Level \u2013 $7,200 Major Resistance Level \u2013 $8,350<\/p>\n","protected":false},"author":67,"featured_media":379431,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119],"class_list":["post-382853","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc"],"acf":[],"yoast_head":"\n<title>Bitcoin (BTC) Price Weekly Prediction: Indicators Suggest Rally To $9,000<\/title>\n<meta name=\"description\" content=\"Bitcoin price is up more than 10% after a strong downside correction against the US Dollar. 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