{"id":412622,"date":"2020-01-28T23:52:10","date_gmt":"2020-01-28T23:52:10","guid":{"rendered":"https:\/\/ktsl888.com\/?p=412622"},"modified":"2024-06-11T13:41:10","modified_gmt":"2024-06-11T13:41:10","slug":"bitcoin-just-surge-9400-heres-why-analysts-think-more-coming","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-just-surge-9400-heres-why-analysts-think-more-coming\/","title":{"rendered":"Bitcoin Just Surged to $9,400: Why Traders Think Price Will Explode Even Further"},"content":{"rendered":"<p>Welcome back bulls. Over the past few hours, <a href=\"https:\/\/ktsl888.com\/category\/crypto\/bitcoin\/\">Bitcoin<\/a> (BTC) has begun to surge higher again per <a href=\"https:\/\/www.tradingview.com\/\" rel=\"nofollow\">TradingView<\/a>, with buyers finally stepping in after last week&#8217;s 11% decline. Since hitting $8,200 late last week, the price of the leading cryptocurrency has exploded higher, surging to just shy of $9,400 minutes ago as of the time of writing this article.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.tradingview.com\/x\/VzXu1vjU\/\" width=\"878\" height=\"521\"><\/p>\n<p>The cryptocurrency failed to surmount $9,400, though the technical backdrop is starting to support further price appreciation.<\/p>\n<h2>Bitcoin Explodes Past $9,400 In Massive Move<\/h2>\n<p>Firstly, this move has brought Bitcoin above the key 200-day simple moving average. While the price has yet to close above this key technical level, sitting around $9,000, this specific moving average has long been seen as analysts as an indicator of an asset\u2019s long-term directionality.<\/p>\n<p>With the daily candle closing in literal minutes, it seems that the asset will flip this resistance into support, boding well for bulls on a long-term basis.<\/p>\n<p>This move has also allowed BTC to break out of \u201can inverse head and shoulders formation (with a very weak right shoulder,<a href=\"https:\/\/ktsl888.com\/2020\/01\/28\/bitcoin-midst-powerful-breakout-high-price-go-past-10000\/\"> which makes it often more powerful.<\/a>\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Bitcoin is breaking out of an inverse head and shoulder formation (with a very weak right should which make it often more powerful). It already broke the big wedge pattern. <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#bitcoin<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BTC<\/a> <a href=\"https:\/\/t.co\/v7XLtK2uac\" rel=\"nofollow\">pic.twitter.com\/v7XLtK2uac<\/a><\/p>\n<p>&mdash; Raoul Pal (@RaoulGMI) <a href=\"https:\/\/twitter.com\/RaoulGMI\/status\/87175680?ref_src=twsrc%5Etfw\" rel=\"nofollow\">January 28, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Trader Mayne, who called this surge towards $9,350 last hour, says that the surge to this level may be a precursor to a further rally to $9,800 \u2014 or another 5% gains from the current levels.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"und\" dir=\"ltr\">$9800<\/p>\n<p>&mdash; Mayne (@Tradermayne) <a href=\"https:\/\/twitter.com\/Tradermayne\/status\/98010368?ref_src=twsrc%5Etfw\" rel=\"nofollow\">January 28, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>CJ noted earlier today that the $9,223 was a &#8220;pivotal&#8221; level for BTC, making this latest surge above this level likely &#8220;pivotal&#8221; for the bullish argument.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"es\" dir=\"ltr\">Pivotal. <a href=\"https:\/\/t.co\/66PdJet2m6\" rel=\"nofollow\">pic.twitter.com\/66PdJet2m6<\/a><\/p>\n<p>&mdash; CJ (@CJ900X) <a href=\"https:\/\/twitter.com\/CJ900X\/status\/74971908?ref_src=twsrc%5Etfw\" rel=\"nofollow\">January 28, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><strong>$9,600 Is Overhead<\/strong><\/h2>\n<p>Where the latest move is undoubtedly bullish, the cryptocurrency will need to close a weekly candle, maybe the upcoming one, above $9,557, for that sets a higher high in this market trend. This close should cement the idea that the long-term downtrend that brought the leading digital asset from $14,000 to $6,400 is decisively over. As <a href=\"https:\/\/twitter.com\/Josh_Rager\" rel=\"nofollow\">Josh Rager<\/a> wrote:<\/p>\n<blockquote><p>&#8220;The downtrend is clearly broken on high time frame and if Bitcoin closes above $9557, that&#8217;s a higher-high.&#8221;<\/p><\/blockquote>\n<p>https:\/\/twitter.com\/Josh_Rager\/status\/87804929<\/p>\n<pre>Featured Image from Shutterstock<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Welcome back bulls. Over the past few hours, Bitcoin (BTC) has begun to surge higher again per TradingView, with buyers finally stepping in after last week&#8217;s 11% decline. Since hitting $8,200 late last week, the price of the leading cryptocurrency has exploded higher, surging to just shy of $9,400 minutes ago as of the time of writing this article. The cryptocurrency failed to surmount $9,400, though the technical backdrop is starting to support further price appreciation. Bitcoin Explodes Past $9,400 In Massive Move Firstly, this move has brought Bitcoin above the key 200-day simple moving average. While the price has yet to close above this key technical level, sitting around $9,000, this specific moving average has long been seen as analysts as an indicator of an asset\u2019s long-term directionality. With the daily candle closing in literal minutes, it seems that the asset will flip this resistance into support, boding well for bulls on a long-term basis. This move has also allowed BTC to break out of \u201can inverse head and shoulders formation (with a very weak right shoulder, which makes it often more powerful.\u201d Bitcoin is breaking out of an inverse head and shoulder formation (with a very weak right should which make it often more powerful). It already broke the big wedge pattern. #bitcoin $BTC pic.twitter.com\/v7XLtK2uac &mdash; Raoul Pal (@RaoulGMI) January 28, 2020 Trader Mayne, who called this surge towards $9,350 last hour, says that the surge to this level may be a precursor to a further rally to $9,800 \u2014 or another 5% gains from the current levels. $9800 &mdash; Mayne (@Tradermayne) January 28, 2020 CJ noted earlier today that the $9,223 was a &#8220;pivotal&#8221; level for BTC, making this latest surge above this level likely &#8220;pivotal&#8221; for the bullish argument. Pivotal. pic.twitter.com\/66PdJet2m6 &mdash; CJ (@CJ900X) January 28, 2020 $9,600 Is Overhead Where the latest move is undoubtedly bullish, the cryptocurrency will need to close a weekly candle, maybe the upcoming one, above $9,557, for that sets a higher high in this market trend. This close should cement the idea that the long-term downtrend that brought the leading digital asset from $14,000 to $6,400 is decisively over. As Josh Rager wrote: &#8220;The downtrend is clearly broken on high time frame and if Bitcoin closes above $9557, that&#8217;s a higher-high.&#8221; https:\/\/twitter.com\/Josh_Rager\/status\/87804929 Featured Image from Shutterstock<\/p>\n","protected":false},"author":497,"featured_media":412458,"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":[69213,166,428,1155],"class_list":["post-412622","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-69213","tag-analysis-2","tag-bitcoin","tag-bullish"],"acf":[],"yoast_head":"\n<title>Bitcoin Just Surged to $9,400: Why Traders Think Price Will Explode Even Further<\/title>\n<meta name=\"description\" content=\"Welcome back bulls. 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