Bitcoin Starts Convincing Rally To $10K After Short Term Correction: Here Are Key Hurdles<\/title>\n<meta name=\"description\" content=\"Bitcoin price remained well bid above $9,000 and rallied to a new 2020 high. BTC is now trading nicely above $9,500 and signaling a strong increase to $10,000.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ktsl888.com\/news\/bitcoin-starts-convincing-rally-to-10k\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Starts Convincing Rally To $10K After Short Term Correction: Here Are Key Hurdles\" \/>\n<meta property=\"og:description\" content=\"Bitcoin price remained well bid above $9,000 and rallied to a new 2020 high. 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{"id":413676,"date":"2020-02-06T05:28:38","date_gmt":"2020-02-06T05:28:38","guid":{"rendered":"https:\/\/ktsl888.com\/?p=413676"},"modified":"2024-06-11T13:41:34","modified_gmt":"2024-06-11T13:41:34","slug":"bitcoin-starts-convincing-rally-to-10k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-starts-convincing-rally-to-10k\/","title":{"rendered":"Bitcoin Starts Convincing Rally To $10K After Short Term Correction: Here Are Key Hurdles"},"content":{"rendered":"

Bitcoin price remained well bid above $9,000 and rallied to a new 2020 high against the US Dollar. BTC is now trading nicely above $9,500 and signaling a strong increase to $10,000.<\/em><\/p>\n

\n
Bitcoin is showing positive signs above the $9,500 and $9,600 levels against the US Dollar.<\/li>\n
The price jumped to a new 2020 high at $9,764 and it is currently correcting lower.<\/li>\n
There is a major bullish trend line forming with support near $9,460 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The current trend suggests the price is likely to continue higher towards $10,000 and $10,200.<\/li>\n<\/ul>\n
Bitcoin Could Soon Test $10,000<\/h2>\n
Recently, there was a downside correction<\/a> in bitcoin from the $9,600 area against the US Dollar. BTC traded below the $9,400 and $9,300 levels, before the bulls took a stand above $9,000.<\/p>\n
A swing low was formed near $9,079 and the price started a fresh increase above the $9,200 resistance area. The bulls gained pace and pushed the price above the 100 hourly simple moving average and the $9,500 resistance area.<\/p>\n
Finally, there was a break above the $9,600 resistance area<\/a> and the price traded to a new 2020 high at $9,764. Bitcoin is currently correcting lower below the $9,700 level.<\/p>\n
It traded below the 23.6% Fib retracement level of the recent rally from the $9,076 low to $9,764 high. However, the previous resistance near the $9,500 and $9,520 levels is acting as a strong support area.<\/p>\n
More importantly, there is a major bullish trend line forming with support near $9,460 on the hourly chart<\/a> of the BTC\/USD pair. On the upside, there are short term hurdles near the $9,700 and $9,750 levels.<\/p>\n
$\"Bitcoin$ <\/a>
Bitcoin Price<\/figcaption><\/figure>\n
A successful break above the $9,750 level is likely to set the pace for a larger upward move. The main target could be $10,000, followed by $10,200.<\/p>\n
Bulls Are In Control<\/h2>\n
On the downside, there are many key supports for bitcoin bulls near the $9,500 area. The next key support is seen near the $9,420 level. It coincides with the 50% Fib retracement level of the recent rally from the $9,076 low to $9,764 high.<\/p>\n
Any further losses may perhaps lead the price towards the $9,340 level and the 100 hourly SMA, where the bulls are likely to take a stand.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is about to move back into the bullish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently rising and it is well above the 55 level.<\/p>\n
Major Support Levels \u2013 $9,500 followed by $9,420.<\/p>\n
Major Resistance Levels \u2013 $9,700, $9,750 and $10,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price remained well bid above $9,000 and rallied to a new 2020 high against the US Dollar. BTC is now trading nicely above $9,500 and signaling a strong increase to $10,000. Bitcoin is showing positive signs above the $9,500 and $9,600 levels against the US Dollar. The price jumped to a new 2020 high at $9,764 and it is currently correcting lower. There is a major bullish trend line forming with support near $9,460 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The current trend suggests the price is likely to continue higher towards $10,000 and $10,200. Bitcoin Could Soon Test $10,000 Recently, there was a downside correction in bitcoin from the $9,600 area against the US Dollar. BTC traded below the $9,400 and $9,300 levels, before the bulls took a stand above $9,000. A swing low was formed near $9,079 and the price started a fresh increase above the $9,200 resistance area. The bulls gained pace and pushed the price above the 100 hourly simple moving average and the $9,500 resistance area. Finally, there was a break above the $9,600 resistance area and the price traded to a new 2020 high at $9,764. Bitcoin is currently correcting lower below the $9,700 level. It traded below the 23.6% Fib retracement level of the recent rally from the $9,076 low to $9,764 high. However, the previous resistance near the $9,500 and $9,520 levels is acting as a strong support area. More importantly, there is a major bullish trend line forming with support near $9,460 on the hourly chart of the BTC\/USD pair. On the upside, there are short term hurdles near the $9,700 and $9,750 levels. A successful break above the $9,750 level is likely to set the pace for a larger upward move. The main target could be $10,000, followed by $10,200. Bulls Are In Control On the downside, there are many key supports for bitcoin bulls near the $9,500 area. The next key support is seen near the $9,420 level. It coincides with the 50% Fib retracement level of the recent rally from the $9,076 low to $9,764 high. Any further losses may perhaps lead the price towards the $9,340 level and the 100 hourly SMA, where the bulls are likely to take a stand. Technical indicators: Hourly MACD \u2013 The MACD is about to move back into the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently rising and it is well above the 55 level. Major Support Levels \u2013 $9,500 followed by $9,420. Major Resistance Levels \u2013 $9,700, $9,750 and $10,000.<\/p>\n","protected":false},"author":67,"featured_media":413678,"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":[428,1119],"class_list":["post-413676","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-analysis","tag-bitcoin","tag-btc"],"acf":[],"yoast_head":"\nBitcoin Starts Convincing Rally To $10K After Short Term Correction: Here Are Key Hurdles<\/title>\n<meta name=\"description\" content=\"Bitcoin price remained well bid above $9,000 and rallied to a new 2020 high. 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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:\/\/ktsl888.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Starts Convincing Rally To $10K After Short Term Correction: Here Are Key Hurdles","url":"http:\/\/ktsl888.com\/news\/bitcoin-starts-convincing-rally-to-10k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin-starts-convincing-rally-to-10k\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/02\/shutterstock_245161030.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/02\/shutterstock_245161030.jpg?fit=1000%2C667"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc"],"dateCreated":"2020-02-06T05:28:38Z","datePublished":"2020-02-06T05:28:38Z","dateModified":"2024-06-11T13:41:34Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Starts Convincing Rally To $10K After Short Term Correction: Here Are Key Hurdles\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-starts-convincing-rally-to-10k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-starts-convincing-rally-to-10k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/02\\\/shutterstock_245161030.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/02\\\/shutterstock_245161030.jpg?fit=1000%2C667\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\"],\"dateCreated\":\"2020-02-06T05:28:38Z\",\"datePublished\":\"2020-02-06T05:28:38Z\",\"dateModified\":\"2024-06-11T13:41:34Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/02\/shutterstock_245161030.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/413676"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=413676"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/413676\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/413678"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=413676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=413676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=413676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}