Bitcoin Holding $10,000 Could Confirm The Bull Run Is Still On

2020-9-12 03:08

Bitcoin needs to hold the current price region where it’s at now to confirm that it remains in a bull trend, analysts say.

Related Reading: CNBC’s “Mad Money” Host Jim Cramer Is Finally Buying Bitcoin Bitcoin Needs to Hold $10,000

Bitcoin must hold $10,000 in the near future to confirm that it is in a bull market, one macro analysis suggested.

A cryptocurrency chartist and trader shared the chart below, which shows Bitcoin’s macro price action along with an Ichimoku Cloud indicator. Bitcoin bounced off that level multiple times over the last bull market to confirm it was in a bull trend.

Chart from TradingView.com. Macro Ichimoku Cloud analysis by crypto trader "Nunya Bizniz" (@Pladizow on Twitter).

He’s not the only one that thinks Bitcoin should hold this level.

As reported by NewsBTC, a historically accurate trader believes that Bitcoin must hold $10,000 to maintain its bullish uptrend. The trader in question is one who predicted BTC’s price action to a T in late-2018, then all throughout 2019.

He wrote referencing the chart below:

“As you can see, $10k level is very important for Bitcoin and was under siege multiple times in the past. From downside… Now the battle is going on from upside. It takes more time than I personally expected, but this doesn’t surprise me much when I look backwards. If Bitcoin hold $10k on weekly basis (i.e. weekly candle will not close below) – it will be a strong ground for further growth. And I’m sure it will.”

Chart from TradingView.com Related Reading: Here’s Why This Crypto CEO Thinks BTC Soon Hits $15,000 Stock Market To Determine BTC’s Fate

The stock market is likely to determine BTC’s fate in the near term.

The value of the S&P 500 has lined up with that of Bitcoin rather well over the past few weeks. This means that if the stock market rallies, so too should BTC, and vice-versa.

Related Reading: This European Crypto Exchange Was Just Hacked for $5 Million Featured Image from Shutterstock Price tags: xbtusd, btcusd, btcusd Charts from TradingView.com Bitcoin Holding $10,000 Could Confirm The Bull Run Is Still On

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 67770.12 (-0.21%)
Объем 24H $27.399b
Изменеия 24h: 0.12 %, 7d: -3.13 %
Cегодня L: $67324.36 - H: $68240.24
Капитализация $1335.447b Rank 1
Цена в час новости $ 10413.84 (550.77%)

bitcoin hold confirm needs mad related money

bitcoin hold → Результатов: 126


Фото:

Analyst: Bitcoin is Forming a Grave Bearish Divergence on Its Macro Chart

Bitcoin has been struggling to hold above $19,000 following its latest rejection around its all-time highs The selling pressure at this level has proven to be quite intense, and it remains unclear as to when bulls will be able to surmount it For this region to be broken, Bitcoin’s buyers will first have to show some greater signs of strength, as they are currently struggling to hold the crypto above $19,000 A continued bout of […]

2020-12-3 02:00


Фото:

ICE’s Bakkt Paves Way for Institutional Investors, Experts Hold

The digital asset platform Bakkt has one feature which the market has been “crying for” according to CEO of an institutional Forex exchange. “This is What The Market Has Been Crying For” David Mercer, CEO of LMAX Exchange – the institutional exchange for global Forex trading as well as the operator of cryptocurrency exchange LMAX Digital, thinks that Bakkt’s 1-day futures contract which physically delivers bitcoin is the game changer the market has been looking Read More The post ICE’s Bakkt Paves Way for Institutional Investors, Experts Hold appeared first on Bitcoinist.com.

2018-8-12 20:00


Bitcoin Drags Further Below $6,500; Are Investors Just Overreacting ?

On Wednesday bitcoin prices were averaging at $6,500 for the better half of the day but towards the evening, it proved that it couldn’t hold up as it dragged further below to reach around $6,200. The good news- if they can be called so- is that the rest of the market has held up and […] The post Bitcoin Drags Further Below $6,500; Are Investors Just Overreacting ? appeared first on ZyCrypto.

2018-8-9 12:20


Фото:

Creative Bitcoin Trading Takes Hold in India Amid Banking Ban on Crypto Entities

Indian cryptocurrency traders have been finding innovative new ways of trading in digital coins ever since the Reserve Bank of India (RBI) banned such coins in April. Even though the voices of concern raised within the crypto community gained attention, they fell on deaf ears of the legislature, which quickly dismissed their bid for survival.

2018-8-4 16:29