{"id":396327,"date":"2019-09-17T20:00:40","date_gmt":"2019-09-17T20:00:40","guid":{"rendered":"https:\/\/wncen.com\/?p=396327"},"modified":"2019-09-17T18:56:17","modified_gmt":"2019-09-17T18:56:17","slug":"crypto-analyst-bitcoin-price-boredom-ends-with-break-of-9k-or-12k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/crypto-analyst-bitcoin-price-boredom-ends-with-break-of-9k-or-12k\/","title":{"rendered":"Crypto Analyst: Bitcoin Price Boredom Ends With Break of $9K or $12K"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\"><a href=\"\/tag\/bitcoin-price\" rel=\"nofollow\">Bitcoin price<\/a> action has gone stagnant, causing volatility to disappear, and turning trader\u2019s attention to toward altcoins like Ethereum and Ripple which are finally having some time in the limelight.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">But for the leading cryptocurrency by market cap to become interesting again, one crypto analyst says that Bitcoin price will need to either break above $12,000 or $9,000. Both prices represent a clean breakout from <a href=\"https:\/\/wncen.com\/2019\/09\/13\/poll-more-than-half-of-bitcoin-investors-expect-triangle-breakout\/\">Bitcoin\u2019s current triangle<\/a> and is likely to reignite trading volume and volatility in the market.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">Bitcoin Price Must Break $9K or $12K To Become Interesting Again<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">After a bullish start to 2019 for <a href=\"https:\/\/wncen.com\/tag\/bitcoin-price\">Bitcoin price<\/a>, the second half of the year thus far has been spent trapped inside a tight trading range where the first-ever crypto asset has been consolidating before it chooses its next direction. But the ranging price action has led to boredom across the market, and<a href=\"https:\/\/wncen.com\/2019\/09\/16\/low-volatility-bitcoin-price-action-decision-time-is-near-powerful-move-incoming\/\"> volatility levels dwindling to lows<\/a> not seen since just before the April 2019 rally or November 2018 breakdown.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/2019\/09\/16\/low-volatility-bitcoin-price-action-decision-time-is-near-powerful-move-incoming\/\">Low Volatility Bitcoin Price Action: Decision Time Is Near, Powerful Move Incoming\u00a0<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">It\u2019s caused many crypto traders to sit out on the sidelines waiting for <a href=\"https:\/\/wncen.com\/2019\/09\/13\/poll-more-than-half-of-bitcoin-investors-expect-triangle-breakout\/\">Bitcoin\u2019s triangle<\/a> to break in either direction and set the trend for the months ahead. But until that happens, and Bitcoin price either breaks below $9,000 or above $12,000, trading the crypto asset just isn\u2019t as interesting as it was throughout the rest of the year thus far.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">$9,000 currently represents the range \u201cbottom\u201d that has held up as support thus far despite three attempts at breaking to the downside. Each time that Bitcoin price reached support in the $9,000 range, it was bought up furiously by bulls buying the dip.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">$12,000 is the range top, which hasn\u2019t been tested since early August. Additional attempts occurred in June and July, but the majority of August and September has been spent under the range median, which currently rests at around $10,800.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BTC<\/a><\/p>\n<p>There is a reason why I haven&#39;t been on Twitter in a week.<br \/>This is just not worth commentating about.<br \/>As soon as we get a close above red or below green the small time frame will get interesting.<\/p>\n<p>Close below $9000, I&#39;ll target $7500-<br \/>Close above $12000, Ill target $14000+ <a href=\"https:\/\/t.co\/HgRxtlE249\" rel=\"nofollow\">pic.twitter.com\/HgRxtlE249<\/a><\/p>\n<p>&mdash; DonAlt (@CryptoDonAlt) <a href=\"https:\/\/twitter.com\/CryptoDonAlt\/status\/25812226?ref_src=twsrc%5Etfw\" rel=\"nofollow\">September 17, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p1\"><span class=\"s1\">One crypto analyst says that a daily candle close below $9,000 would result in downside targets of $7,500 and lower, which would send <a href=\"\/tag\/bitcoin-price\" rel=\"nofollow\">Bitcoin price<\/a> back down to retest former bear market support levels. A candle close above $12,000 would almost surely mean that a retest of $14,000 or higher is on the table.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/2019\/09\/13\/poll-more-than-half-of-bitcoin-investors-expect-triangle-breakout\/\">Poll: More Than Half of Bitcoin Investors Expect Triangle Breakout\u00a0<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">If <a href=\"https:\/\/www.blockchain.com\/prices\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Bitcoin price<\/a> can gather enough momentum to breach $14,000 where it was rejected from back in June \u2013 the rejection that resulted in the current trading range consolidation \u2013 the crypto asset is very likely to move on to retest its former all-time high at $20,000 it set back at the peak of the crypto bull run of 2017. If it can break above $20,000, then the sky is the limit and <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> will be in price discovery mode, looking for its next peak.<\/span><\/p>\n<pre>Featured image from Shutterstock<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price action has gone stagnant, causing volatility to disappear, and turning trader\u2019s attention to toward altcoins like Ethereum and Ripple which are finally having some time in the limelight. But for the leading cryptocurrency by market cap to become interesting again, one crypto analyst says that Bitcoin price will need to either break above $12,000 or $9,000. Both prices represent a clean breakout from Bitcoin\u2019s current triangle and is likely to reignite trading volume and volatility in the market. Bitcoin Price Must Break $9K or $12K To Become Interesting Again After a bullish start to 2019 for Bitcoin price, the second half of the year thus far has been spent trapped inside a tight trading range where the first-ever crypto asset has been consolidating before it chooses its next direction. But the ranging price action has led to boredom across the market, and volatility levels dwindling to lows not seen since just before the April 2019 rally or November 2018 breakdown. Related Reading | Low Volatility Bitcoin Price Action: Decision Time Is Near, Powerful Move Incoming\u00a0 It\u2019s caused many crypto traders to sit out on the sidelines waiting for Bitcoin\u2019s triangle to break in either direction and set the trend for the months ahead. But until that happens, and Bitcoin price either breaks below $9,000 or above $12,000, trading the crypto asset just isn\u2019t as interesting as it was throughout the rest of the year thus far. $9,000 currently represents the range \u201cbottom\u201d that has held up as support thus far despite three attempts at breaking to the downside. Each time that Bitcoin price reached support in the $9,000 range, it was bought up furiously by bulls buying the dip. $12,000 is the range top, which hasn\u2019t been tested since early August. Additional attempts occurred in June and July, but the majority of August and September has been spent under the range median, which currently rests at around $10,800. $BTC There is a reason why I haven&#39;t been on Twitter in a week.This is just not worth commentating about.As soon as we get a close above red or below green the small time frame will get interesting. Close below $9000, I&#39;ll target $7500-Close above $12000, Ill target $14000+ pic.twitter.com\/HgRxtlE249 &mdash; DonAlt (@CryptoDonAlt) September 17, 2019 One crypto analyst says that a daily candle close below $9,000 would result in downside targets of $7,500 and lower, which would send Bitcoin price back down to retest former bear market support levels. A candle close above $12,000 would almost surely mean that a retest of $14,000 or higher is on the table. Related Reading | Poll: More Than Half of Bitcoin Investors Expect Triangle Breakout\u00a0 If Bitcoin price can gather enough momentum to breach $14,000 where it was rejected from back in June \u2013 the rejection that resulted in the current trading range consolidation \u2013 the crypto asset is very likely to move on to retest its former all-time high at $20,000 it set back at the peak of the crypto bull run of 2017. If it can break above $20,000, then the sky is the limit and Bitcoin will be in price discovery mode, looking for its next peak. Featured image from Shutterstock<\/p>\n","protected":false},"author":517,"featured_media":396330,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,679,6664,42860,1946,3680],"class_list":["post-396327","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-bitcoin-price","tag-crypto","tag-donalt","tag-ethereum","tag-ripple"],"acf":[],"yoast_head":"\n<title>Crypto Analyst: Bitcoin Price Boredom Ends With Break of $9K or $12K<\/title>\n<meta name=\"description\" content=\"Bitcoin price action has gone stagnant, causing volatility to disappear, and turning trader\u2019s attention to toward altcoins like Ethereum and Ripple which\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/crypto-analyst-bitcoin-price-boredom-ends-with-break-of-9k-or-12k\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto Analyst: Bitcoin Price Boredom Ends With Break of $9K or $12K\" \/>\n<meta property=\"og:description\" content=\"Bitcoin price action has gone stagnant, causing volatility to disappear, and turning trader\u2019s attention to toward altcoins like Ethereum and Ripple which\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/crypto-analyst-bitcoin-price-boredom-ends-with-break-of-9k-or-12k\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-09-17T20:00:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-09-17T18:56:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/09\/bitcoin-price-crypto-shutterstock_1041920776.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"5616\" \/>\n\t<meta property=\"og:image:height\" content=\"3744\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. 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His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \\\"The Bull\\\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. 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