{"id":409024,"date":"2019-12-28T08:07:45","date_gmt":"2019-12-28T08:07:45","guid":{"rendered":"https:\/\/wncen.com\/?p=409024"},"modified":"2024-06-11T11:36:39","modified_gmt":"2024-06-11T11:36:39","slug":"once-bitcoin-breaks-7650-price-fly-higher","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/once-bitcoin-breaks-7650-price-fly-higher\/","title":{"rendered":"Once Bitcoin Breaks $7,650, Price Will &#8220;Fly&#8221; Higher; Here&#8217;s Why"},"content":{"rendered":"<p>Bitcoin (BTC) has had quite a quiet past few days, flatlining in the low-$7,000s in the wake of <a href=\"https:\/\/wncen.com\/2019\/12\/25\/bitcoin-price-jump-after-christmas\/\">Christmas.<\/a> Analysts say that despite this lull, the cryptocurrency is starting to show signs of wanting to break higher.<\/p>\n<p>Analyst Mexbt remarked that he thinks that the cryptocurrency will soon &#8220;test the weekly and monthly open,&#8221; meaning the range between &#8220;$7509.5 to $7549.5,&#8221; possibly as soon as this weekend. This would mark a 5% rally from current levels.<\/p>\n<p>https:\/\/twitter.com\/stackxbt\/status\/86866176<\/p>\n<p>This assertion has been echoed by prominent cryptocurrency commentator and analyst Flood, who <a href=\"https:\/\/twitter.com\/ThinkingUSD\/status\/99731969\" rel=\"nofollow\">remarked<\/a> that he also thinks Bitcoin&#8217;s price will soon return to $7,600, adding that the cryptocurrency looks &#8220;primed to bounce up here.&#8221;<\/p>\n<h6 style=\"text-align: center\">Related Reading:\u00a0<a href=\"https:\/\/wncen.com\/2019\/12\/27\/china-continues-anti-crypto-stance-beijing-warning-will-it-work\/\" data-wpel-link=\"internal\">China Continues Anti-Crypto Stance With Beijing Warning; Will it Work?<\/a><\/h6>\n<p>Interestingly, this comes as prominent cryptocurrency trader SmartContracter has said that if Bitcoin manages to break $7,650, the price of the asset will &#8220;fly,&#8221; drawing attention to the fact that the weekly chart is starting to favor bulls due to a massive Swing Failure Pattern, marked by a strong wick lower and subsequent bounce, signaling demand.<\/p>\n<p>The importance of $7,650 is that it is the neckline of an inverse head and shoulders bottoming pattern that may mark an end to the macro downtrend that has plagued Bitcoin for months.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">all eyes should be on btc right now. <br \/>we break 7650  and btc will fly, alot of people conveniently ignoring this huge weekly SFP aswell <a href=\"https:\/\/t.co\/LFXrlu8ECl\" rel=\"nofollow\">pic.twitter.com\/LFXrlu8ECl<\/a><\/p>\n<p>&mdash; Bluntz (@Bluntz_Capital) <a href=\"https:\/\/twitter.com\/Bluntz_Capital\/status\/22855168?ref_src=twsrc%5Etfw\" rel=\"nofollow\">December 28, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>This begs the question, can BTC break past $7,650? Can the cryptocurrency begin its next bullish leg higher?<\/p>\n<p>According to analysts, for sure. They claim that there is a confluence of fundamental, technical, and on-chain factors that suggest Bitcoin is ready to surge higher, making a move and close past $7,650 easy.<\/p>\n<h6 style=\"text-align: center\">Related Reading:\u00a0<a href=\"https:\/\/wncen.com\/2019\/12\/26\/early-bitcoin-adopter-cold-water-halving\/\" data-wpel-link=\"internal\">Early Bitcoin Adopter Throws Cold Water On Halving Narrative; Here\u2019s Why<\/a><\/h6>\n<h2><strong>Bitcoin Indicators Signal Strength<\/strong><\/h2>\n<p>Per <a href=\"https:\/\/wncen.com\/2019\/12\/28\/fund-manager-thinks-bitcoin-rally-25-9000-one-month\/\">previous reports from NewsBTC<\/a>, <a href=\"https:\/\/twitter.com\/zhusu\" rel=\"nofollow\">Su Zhu<\/a>, the chief executive officer of forex and crypto fund Three Arrows Capital, recently remarked on Twitter that he believes Bitcoin\u2019s price outlooking heading into 2020 is looking rather bullish.<\/p>\n<p>https:\/\/twitter.com\/zhusu\/status\/94166272<\/p>\n<p>The prominent industry commentator, who has penned some stellar articles about the Bitcoin space for his\u00a0<a href=\"https:\/\/t.co\/9ck7KiLlUo\" target=\"_blank\" data-wpel-link=\"external\" rel=\"nofollow noopener noreferrer\">blog<\/a>, noted that per his analysis of the BTC\/USDT trading pairs and their premiums to BTC\/USD markets and the overall price action with Bitcoin, there are \u201cclear signs of accumulation and money flow back into risk.\u201d<\/p>\n<p>He thus concluded that he wouldn\u2019t be surprised to see the leading cryptocurrency surpass $9,000 \u2014 25% higher than current prices \u2014 before the end of January.<\/p>\n<h6 style=\"text-align: center\">Related Reading:\u00a0<a href=\"https:\/\/wncen.com\/2019\/12\/27\/bitcoin-networks-record-2019-bullish-price-market\/\" data-wpel-link=\"internal\">Why Bitcoin Network\u2019s Record 2019 Is Bullish For the Crypto Market<\/a><\/h6>\n<pre>Featured Image from Shutterstock<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) has had quite a quiet past few days, flatlining in the low-$7,000s in the wake of Christmas. Analysts say that despite this lull, the cryptocurrency is starting to show signs of wanting to break higher. Analyst Mexbt remarked that he thinks that the cryptocurrency will soon &#8220;test the weekly and monthly open,&#8221; meaning the range between &#8220;$7509.5 to $7549.5,&#8221; possibly as soon as this weekend. This would mark a 5% rally from current levels. https:\/\/twitter.com\/stackxbt\/status\/86866176 This assertion has been echoed by prominent cryptocurrency commentator and analyst Flood, who remarked that he also thinks Bitcoin&#8217;s price will soon return to $7,600, adding that the cryptocurrency looks &#8220;primed to bounce up here.&#8221; Related Reading:\u00a0China Continues Anti-Crypto Stance With Beijing Warning; Will it Work? Interestingly, this comes as prominent cryptocurrency trader SmartContracter has said that if Bitcoin manages to break $7,650, the price of the asset will &#8220;fly,&#8221; drawing attention to the fact that the weekly chart is starting to favor bulls due to a massive Swing Failure Pattern, marked by a strong wick lower and subsequent bounce, signaling demand. The importance of $7,650 is that it is the neckline of an inverse head and shoulders bottoming pattern that may mark an end to the macro downtrend that has plagued Bitcoin for months. all eyes should be on btc right now. we break 7650 and btc will fly, alot of people conveniently ignoring this huge weekly SFP aswell pic.twitter.com\/LFXrlu8ECl &mdash; Bluntz (@Bluntz_Capital) December 28, 2019 This begs the question, can BTC break past $7,650? Can the cryptocurrency begin its next bullish leg higher? According to analysts, for sure. They claim that there is a confluence of fundamental, technical, and on-chain factors that suggest Bitcoin is ready to surge higher, making a move and close past $7,650 easy. Related Reading:\u00a0Early Bitcoin Adopter Throws Cold Water On Halving Narrative; Here\u2019s Why Bitcoin Indicators Signal Strength Per previous reports from NewsBTC, Su Zhu, the chief executive officer of forex and crypto fund Three Arrows Capital, recently remarked on Twitter that he believes Bitcoin\u2019s price outlooking heading into 2020 is looking rather bullish. https:\/\/twitter.com\/zhusu\/status\/94166272 The prominent industry commentator, who has penned some stellar articles about the Bitcoin space for his\u00a0blog, noted that per his analysis of the BTC\/USDT trading pairs and their premiums to BTC\/USD markets and the overall price action with Bitcoin, there are \u201cclear signs of accumulation and money flow back into risk.\u201d He thus concluded that he wouldn\u2019t be surprised to see the leading cryptocurrency surpass $9,000 \u2014 25% higher than current prices \u2014 before the end of January. Related Reading:\u00a0Why Bitcoin Network\u2019s Record 2019 Is Bullish For the Crypto Market Featured Image from Shutterstock<\/p>\n","protected":false},"author":497,"featured_media":409033,"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":[428,1558],"class_list":["post-409024","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-cryptocurrency"],"acf":[],"yoast_head":"\n<title>Once Bitcoin Breaks $7,650, Price Will &quot;Fly&quot; Higher; Here&#039;s Why<\/title>\n<meta name=\"description\" content=\"Bitcoin (BTC) has had quite a quiet past few days, flatlining in the low-$7,000s in the wake of Christmas. 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