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{"id":422560,"date":"2020-05-03T04:58:25","date_gmt":"2020-05-03T04:58:25","guid":{"rendered":"https:\/\/wncen.com\/?p=422560"},"modified":"2024-06-11T13:48:12","modified_gmt":"2024-06-11T13:48:12","slug":"bitcoin-btc-highly-bullish-to-10000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-btc-highly-bullish-to-10000\/","title":{"rendered":"Bitcoin Highly Bullish Despite Correction; Here\u2019s What Could Propel it to $10,000"},"content":{"rendered":"

Bitcoin is trading in a solid uptrend above the $8,400 and $8,800 support levels against the US Dollar. BTC is rising and it looks set for a larger rally above $9,500 and $9,800.<\/em><\/p>\n

\n
Bitcoin corrected lower from the $9,480 swing high and tested the $8,400 support zone.<\/li>\n
It is likely to continue higher and it could rally above the $9,500 resistance.<\/li>\n
There is a major bullish trend line forming with support near $8,950 on the 4-hours chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could correct a few points, but dips are likely to remain limited below $8,950.<\/li>\n<\/ul>\n
Bitcoin Could Rally Past $10,000<\/h2>\n
This past week, bitcoin rallied more than 20%<\/a> and broke the $9,000 resistance against the US Dollar. BTC price traded as high as $9,479 before starting a sharp downside correction.<\/p>\n
There was a drop below the $9,200 and $9,000 support levels. The price even declined below the 23.6% Fib retracement level of the upward move from the $7,357 swing low to $7,479 high.<\/p>\n
Finally, bitcoin price spiked below the $8,500 support, but the bulls protected the $8,400 level<\/a>. It tested the $8,420 level and remained well bid above the 100 simple moving average (4-hours). It seems like the price found support near the 50% Fib retracement level of the upward move from the $7,357 swing low to $7,479 high.<\/p>\n
It is currently rising and trading above the $8,800 and $8,950 resistance levels. There is also a major bullish trend line forming with support near $8,950 on the 4-hours chart<\/a> of the BTC\/USD pair.<\/p>\n
$\"Bitcoin$ <\/a>
Bitcoin Price<\/figcaption><\/figure>\n
An initial resistance on the upside is near the $9,200 level. A successful break above the $9,200 level could lead the price towards the $9,479 high or the $9,500 resistance level. Any further gains may perhaps call for a move towards the $10,000 resistance.<\/p>\n
Downside Correction<\/h2>\n
If bitcoin fails to continue above the $9,200 resistance level, it could correct lower once again. On the downside, there is a major support forming near $8,950.<\/p>\n
If the bulls fail to keep the price above the trend line support, it might decline towards the $8,400 support. The next major support is near the $8,000 pivot level (the previous breakout zone).<\/p>\n
Technical indicators<\/p>\n
4 hours MACD \u2013 The MACD for BTC\/USD is about to gain pace in the bullish zone.<\/p>\n
4 hours RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently well above the 60 level.<\/p>\n
Major Support Level \u2013 $8,950<\/p>\n
Major Resistance Level \u2013 $9,500<\/p>\n
Take advantage of the trading opportunities with Plus500<\/a><\/p>\n
Risk disclaimer: 76.4% of retail CFD accounts lose money.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin is trading in a solid uptrend above the $8,400 and $8,800 support levels against the US Dollar. BTC is rising and it looks set for a larger rally above $9,500 and $9,800. Bitcoin corrected lower from the $9,480 swing high and tested the $8,400 support zone. It is likely to continue higher and it could rally above the $9,500 resistance. There is a major bullish trend line forming with support near $8,950 on the 4-hours chart of the BTC\/USD pair (data feed from Kraken). The pair could correct a few points, but dips are likely to remain limited below $8,950. Bitcoin Could Rally Past $10,000 This past week, bitcoin rallied more than 20% and broke the $9,000 resistance against the US Dollar. BTC price traded as high as $9,479 before starting a sharp downside correction. There was a drop below the $9,200 and $9,000 support levels. The price even declined below the 23.6% Fib retracement level of the upward move from the $7,357 swing low to $7,479 high. Finally, bitcoin price spiked below the $8,500 support, but the bulls protected the $8,400 level. It tested the $8,420 level and remained well bid above the 100 simple moving average (4-hours). It seems like the price found support near the 50% Fib retracement level of the upward move from the $7,357 swing low to $7,479 high. It is currently rising and trading above the $8,800 and $8,950 resistance levels. There is also a major bullish trend line forming with support near $8,950 on the 4-hours chart of the BTC\/USD pair. An initial resistance on the upside is near the $9,200 level. A successful break above the $9,200 level could lead the price towards the $9,479 high or the $9,500 resistance level. Any further gains may perhaps call for a move towards the $10,000 resistance. Downside Correction If bitcoin fails to continue above the $9,200 resistance level, it could correct lower once again. On the downside, there is a major support forming near $8,950. If the bulls fail to keep the price above the trend line support, it might decline towards the $8,400 support. The next major support is near the $8,000 pivot level (the previous breakout zone). Technical indicators 4 hours MACD \u2013 The MACD for BTC\/USD is about to gain pace in the bullish zone. 4 hours RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently well above the 60 level. Major Support Level \u2013 $8,950 Major Resistance Level \u2013 $9,500 Take advantage of the trading opportunities with Plus500 Risk disclaimer: 76.4% of retail CFD accounts lose money.<\/p>\n","protected":false},"author":67,"featured_media":422562,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3,4],"tags":[428,1144],"class_list":["post-422560","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-analysis","tag-bitcoin","tag-btcusd"],"acf":[],"yoast_head":"\nBitcoin Highly Bullish Despite Correction; Here\u2019s What Could Propel it to $10,000<\/title>\n<meta name=\"description\" content=\"Bitcoin is trading in a solid uptrend above the $8,400 and $8,800 support levels. 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His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/wncen.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Highly Bullish Despite Correction; Here\u2019s What Could Propel it to $10,000","url":"http:\/\/wncen.com\/news\/bitcoin-btc-highly-bullish-to-10000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-btc-highly-bullish-to-10000\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/05\/shutterstock_351586163.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/05\/shutterstock_351586163.jpg?fit=1000%2C600"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btcusd"],"dateCreated":"2020-05-03T04:58:25Z","datePublished":"2020-05-03T04:58:25Z","dateModified":"2024-06-11T13:48:12Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Highly Bullish Despite Correction; Here\\u2019s What Could Propel it to $10,000\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-btc-highly-bullish-to-10000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-btc-highly-bullish-to-10000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/05\\\/shutterstock_351586163.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/05\\\/shutterstock_351586163.jpg?fit=1000%2C600\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btcusd\"],\"dateCreated\":\"2020-05-03T04:58:25Z\",\"datePublished\":\"2020-05-03T04:58:25Z\",\"dateModified\":\"2024-06-11T13:48:12Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/05\/shutterstock_351586163.jpg?fit=1000%2C600","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/422560"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=422560"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/422560\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/422562"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=422560"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=422560"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=422560"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}