{"id":426511,"date":"2020-06-08T03:58:49","date_gmt":"2020-06-08T03:58:49","guid":{"rendered":"https:\/\/wncen.com\/?p=426511"},"modified":"2024-06-12T09:23:59","modified_gmt":"2024-06-12T09:23:59","slug":"bitcoin-btc-rebounds-sharply-10k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-btc-rebounds-sharply-10k\/","title":{"rendered":"Bitcoin Rebounds Sharply: Here\u2019s Why 100 SMA Could Trigger More Gains"},"content":{"rendered":"
Bitcoin is surging and it recently tested the $9,400 support area against the US Dollar. BTC price is likely to continue higher towards $10,000 as long as it is above the 100 hourly SMA.<\/em><\/p>\n
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Bitcoin is showing positive signs above the $9,650 and $9,700 levels.<\/li>\n
There was a sharp rebound after the price declined towards the $9,400 support zone<\/li>\n
There was a break above a key bearish trend line with resistance near $9,670 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair is likely to accelerate higher towards $10,000 as long as it is above the 100 hourly SMA.<\/li>\n<\/ul>\n
Bitcoin Price Could Continue Higher<\/h2>\n
In the past two sessions, there were swing moves in bitcoin price below $9,800 against the US Dollar. BTC declined sharply below the $9,600 and $9,500 levels, but the $9,400 region<\/a> acted as a strong support.<\/p>\n