{"id":426753,"date":"2020-06-10T03:58:35","date_gmt":"2020-06-10T03:58:35","guid":{"rendered":"https:\/\/wncen.com\/?p=426753"},"modified":"2024-06-11T08:42:31","modified_gmt":"2024-06-11T08:42:31","slug":"bitcoin-btc-uptrend-intact-above-9300","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-btc-uptrend-intact-above-9300\/","title":{"rendered":"Bitcoin Daily Chart Suggests Loss In Momentum But Uptrend Intact Above $9,300"},"content":{"rendered":"
Bitcoin is trading nicely in a strong uptrend above $9,300 on the daily chart against the US Dollar. BTC is currently facing a crucial barrier at $10,000, above which it could rally significantly.<\/em><\/p>\n
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Bitcoin climbed to a new 2-month high at $10,390 before starting a consolidation phase.<\/li>\n
The price seems to be losing bullish momentum, but it is well above the 100-day simple moving average.<\/li>\n
There is a crucial bullish trend line forming with support near $9,300 on the daily chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
Ethereum is also showing positive signs, but it facing a major resistance near the $250 level.<\/li>\n<\/ul>\n
Bitcoin Facing Uphill Task<\/h2>\n
In the past few days, there was a steady rise in bitcoin price above the $9,000 level resistance against the US Dollar. BTC price extended its rise above the $10,000 level and settled well above the 100-day simple moving average.<\/p>\n
It traded to a new 2-month high at $10,390 and recently corrected lower. There was a break below the $10,200 and $10,000 levels. It even corrected below the 50% Fib retracement level of the upward move from the $8,655 swing low to $10,390 high.<\/p>\n