{"id":413326,"date":"2020-02-03T22:34:08","date_gmt":"2020-02-03T22:34:08","guid":{"rendered":"https:\/\/ktsl888.com\/?p=413326"},"modified":"2024-06-11T13:41:26","modified_gmt":"2024-06-11T13:41:26","slug":"here-are-10-reasons-why-bitcoin-could-surge-past-10000","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/here-are-10-reasons-why-bitcoin-could-surge-past-10000\/","title":{"rendered":"Here Are 7 Reasons Why Bitcoin Could Explode Past $10,000"},"content":{"rendered":"<p>Over the past few days, <a href=\"https:\/\/ktsl888.com\/category\/crypto\/bitcoin\/\">Bitcoin<\/a> has found itself stalling in the low-$9,000s, failing to venture out of a tight range it has been stuck in for the past four days. The below chart from <a href=\"https:\/\/tradingview.com\/\" rel=\"nofollow\">TradingView<\/a> shows this non-action perfectly.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.tradingview.com\/x\/lhE8ifeJ\/\" width=\"794\" height=\"479\"><\/p>\n<p>Although some say that this flatlining price action is a precursor to Bitcoin return into the $8,000s as bears take over, a leading analyst recently gave over 7 key reasons why BTC may break higher past $10,000 in the near future to restart a bull trend.<\/p>\n<p>The analyst is one <a href=\"https:\/\/twitter.com\/Yodaskk\" rel=\"nofollow\">Coiner Yadox<\/a>, who has done quite well over the past few weeks in calling the cryptocurrency market&#8217;s price action.<\/p>\n<h2>7 Reasons Why Bitcoin Could Soon Explode Higher, Per Top Analyst<\/h2>\n<p>Here are 7 of the over 20 reasons why Bitcoin could soon head higher, according to Yadox anyway.<\/p>\n<ul>\n<li>BTC recently took the monthly price support of the key 21-month exponential moving average, then closed above the 10-month exponential moving average. This was underscored by the fact that Bitcoin scored a higher high in the monthly close, killing the downtrend.<\/li>\n<\/ul>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24btc&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$btc<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24btcusd&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$btcusd<\/a><\/p>\n<p>Monthly taking support on 21 Monthly EMA, and closing above 10 Monthly EMA<\/p>\n<p>Also getting a Monthly Higher High close<\/p>\n<p>2\/x <a href=\"https:\/\/t.co\/qVfgBHtUiS\" rel=\"nofollow\">pic.twitter.com\/qVfgBHtUiS<\/a><\/p>\n<p>&mdash; Coiner-Yadox (@Yodaskk) <a href=\"https:\/\/twitter.com\/Yodaskk\/status\/94877696?ref_src=twsrc%5Etfw\" rel=\"nofollow\">February 3, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<ul>\n<li>Bitcoin&#8217;s weekly Relative Strength Index (RSI) recently moved above the key 55 range, which has historically been an inflection point for the market; when the RSI is above 55, BTC is technically in a bull market.<\/li>\n<li>The leading cryptocurrency has moved above the 200-day moving average. Yadox said that this is a sign of a bull market, and <a href=\"https:\/\/ktsl888.com\/2020\/02\/03\/heres-why-bitcoin-could-soon-see-big-upside-even-as-price-stalls-at-9400\/\">Fundstrat&#8217;s Tom Lee agrees.<\/a><\/li>\n<li>The 50-day exponential moving average and 200-day exponential moving average recently saw a bullish cross.<\/li>\n<li>The weekly Super Guppy indicator has started to trend green, something that preceded historical bull markets.<\/li>\n<li>Bitcoin&#8217;s Ichimoku Cloud has crossed into green, suggesting a bull trend.<\/li>\n<li>The halving is taking place soon, which should help boost prices in the long run due to a strong decrease in incoming supply, affecting the supply-demand dynamics fo this market.<\/li>\n<\/ul>\n<p>On Sunday, prominent analyst\u00a0<a href=\"https:\/\/twitter.com\/filbfilb?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor\" target=\"_blank\" data-wpel-link=\"exclude\" rel=\"follow noopener noreferrer nofollow\">Filb Filb<\/a>\u00a0\u2014 the trader who in October 2019 called Bitcoin\u2019s surge to $10,000 and subsequent decline to the $6,000s \u2014 posted the below\u00a0<a href=\"https:\/\/t.me\/cryptotraider\" target=\"_blank\" data-wpel-link=\"external\" rel=\"nofollow noopener noreferrer\">chart to his Telegram channel for crypto analysis<\/a>.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/02\/photo_2020-02-02_06-42-31.jpg\" loading=\"lazy\"><\/p>\n<p>He <a href=\"https:\/\/ktsl888.com\/2020\/02\/03\/heres-why-bitcoin-could-soon-see-big-upside-even-as-price-stalls-at-9400\/\">wrote that these charts paint a \u201cpretty bullish outlook\u201d<\/a> because the \u201cvolume indicators are good,\u201d not to mention the \u201cmoving averages are trending up.\u201d Filb Filb continued that his monthly chart coupled with a\u00a0 proprietary indicator is printing a buy signal, \u201cwhich in the past has meant a big upside move.\u201d<\/p>\n<h6 style=\"text-align: center\">Related Reading: <a href=\"https:\/\/ktsl888.com\/2020\/02\/03\/most-profitable-bitcoin-trader-bitfinex-convinced-rally\/\">Millionaire Bitcoin Whale on Bitfinex Not Convinced of Crazy 46% Rally<\/a><\/h6>\n<pre>Featured Image from Shutterstock<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Over the past few days, Bitcoin has found itself stalling in the low-$9,000s, failing to venture out of a tight range it has been stuck in for the past four days. The below chart from TradingView shows this non-action perfectly. Although some say that this flatlining price action is a precursor to Bitcoin return into the $8,000s as bears take over, a leading analyst recently gave over 7 key reasons why BTC may break higher past $10,000 in the near future to restart a bull trend. The analyst is one Coiner Yadox, who has done quite well over the past few weeks in calling the cryptocurrency market&#8217;s price action. 7 Reasons Why Bitcoin Could Soon Explode Higher, Per Top Analyst Here are 7 of the over 20 reasons why Bitcoin could soon head higher, according to Yadox anyway. BTC recently took the monthly price support of the key 21-month exponential moving average, then closed above the 10-month exponential moving average. This was underscored by the fact that Bitcoin scored a higher high in the monthly close, killing the downtrend. $btc $btcusd Monthly taking support on 21 Monthly EMA, and closing above 10 Monthly EMA Also getting a Monthly Higher High close 2\/x pic.twitter.com\/qVfgBHtUiS &mdash; Coiner-Yadox (@Yodaskk) February 3, 2020 Bitcoin&#8217;s weekly Relative Strength Index (RSI) recently moved above the key 55 range, which has historically been an inflection point for the market; when the RSI is above 55, BTC is technically in a bull market. The leading cryptocurrency has moved above the 200-day moving average. Yadox said that this is a sign of a bull market, and Fundstrat&#8217;s Tom Lee agrees. The 50-day exponential moving average and 200-day exponential moving average recently saw a bullish cross. The weekly Super Guppy indicator has started to trend green, something that preceded historical bull markets. Bitcoin&#8217;s Ichimoku Cloud has crossed into green, suggesting a bull trend. The halving is taking place soon, which should help boost prices in the long run due to a strong decrease in incoming supply, affecting the supply-demand dynamics fo this market. On Sunday, prominent analyst\u00a0Filb Filb\u00a0\u2014 the trader who in October 2019 called Bitcoin\u2019s surge to $10,000 and subsequent decline to the $6,000s \u2014 posted the below\u00a0chart to his Telegram channel for crypto analysis. He wrote that these charts paint a \u201cpretty bullish outlook\u201d because the \u201cvolume indicators are good,\u201d not to mention the \u201cmoving averages are trending up.\u201d Filb Filb continued that his monthly chart coupled with a\u00a0 proprietary indicator is printing a buy signal, \u201cwhich in the past has meant a big upside move.\u201d Related Reading: Millionaire Bitcoin Whale on Bitfinex Not Convinced of Crazy 46% Rally Featured Image from Shutterstock<\/p>\n","protected":false},"author":497,"featured_media":413328,"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":[166,428,1155,1558],"class_list":["post-413326","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-analysis-2","tag-bitcoin","tag-bullish","tag-cryptocurrency"],"acf":[],"yoast_head":"\n<title>Here Are 7 Reasons Why Bitcoin Could Explode Past $10,000<\/title>\n<meta name=\"description\" content=\"Over the past few days, Bitcoin has found itself stalling in the low-$9,000s, failing to venture out of a tight range it has been stuck in for the past\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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