{"id":420124,"date":"2020-04-06T19:19:00","date_gmt":"2020-04-06T19:19:00","guid":{"rendered":"https:\/\/ktsl888.com\/?p=420124"},"modified":"2024-06-11T11:54:04","modified_gmt":"2024-06-11T11:54:04","slug":"whats-next-for-bitcoin-price-after-it-just-reclaimed-7300","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/whats-next-for-bitcoin-price-after-it-just-reclaimed-7300\/","title":{"rendered":"What’s Next For Bitcoin Price After It Just Reclaimed $7,300?"},"content":{"rendered":"

Somehow, someway, the price of Bitcoin has continued to show resilience after March 12\u2019s capitulation event, decisively retaking $7,300 just minutes ago after trying an failing to surmount this level multiple times over the past few days.<\/p>\n

As of the time of this article’s writing, BTC is trading at $7,295, up 8% from the session open and up over 20% since last week’s lows under $5,900.<\/p>\n

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Bitcoin’s latest bout of strength comes as the stock market has managed to mount a strong comeback, despite the coronavirus outbreak and economic conditions continue to weaken on the weekend, epitomized by the 6.6 million jobless claims in the U.S. alone last week.<\/p>\n

What’s Next For Bitcoin?<\/strong><\/h2>\n

With the recent price action, which has meant that Bitcoin has almost fully retraced the crash on March 12th, analysts have become increasingly bullish.<\/p>\n

Bloomberg\u00a0wrote<\/a>\u00a0last week that Bitcoin\u2019s recent move higher has allowed it to trigger a \u201cpositive divergence and a buy signal,\u201d according to the indicator the DVAN Buying and Selling Pressure Gauge. BTC last saw this trend in January, prior to the 50% surge from $7,000 to $10,500. The same indicator also flipped bearish when BTC fell under $10,000 in the middle of February, adding credence to the recent signal.<\/p>\n

Bitcoin analyst Filb Filb \u2014 who accurately predicted the trajectory of BTC (down to the $) in Q4 2019 and January 2020 \u2014 wrote in his Telegram channel<\/a> that his personal indicator suggests \u201cwe are good on trend and volume,\u201d adding that a simple technical analysis of the chart implies a rally to $8,150 in the coming days. $8,150 is nearly 15% higher than the current market price.<\/p>\n

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The optimism has been echoed by others.<\/p>\n

Per previous reports from NewsBTC<\/a>, on-chain analyst Willy Woo found that mining indicators suggest the Bitcoin bottom is in, meaning the cryptocurrency could soon enter back into a bull run.<\/p>\n

Woo cited two indicators to convey his point:<\/p>\n