Image Courtesy of CryptoBirb<\/figcaption><\/figure>\nFeatured image from Unplash.<\/pre>\n","protected":false},"excerpt":{"rendered":"Bitcoin has been flashing signs of bourgeoning technical strength in the time following its recent dip to lows of $8,100. From this point, the cryptocurrency has been able to incur a steady climb higher that has since allowed it to once again surmount the $9,000 region. BTC is now fast approaching a key trend-defining moving average that could play a huge role in determining which direction the cryptocurrency trends in the months ahead. One analyst believes that a firm break above this level could be all that is needed for BTC to rally up to fresh post-2017 highs of $14,000. If this climb occurs, it could mark the start of the cryptocurrency\u2019s next parabolic uptrend. Bitcoin Incurs Notable Momentum as It Approaches Upper Boundary of Channel\u00a0 At the time of writing, Bitcoin is trading up just under 2% at its current price of $9,060, marking a notable climb from daily lows of just under $8,800 that were set yesterday. The cryptocurrency\u2019s recent price action has largely marked an extended bout of consolidation as it hovers around $9,000. Today\u2019s push above this level does seem to mark a bullish resolution to this sideways trading, but it is imperative the it continues climbing higher in order for this to be confirmed. Some investors had previously speculated that BTC would see a post-halving selloff due to the hype surrounding this event fading. It doesn\u2019t appear that this is the case, however, and the widely discussed \u201chalving dip\u201d may have been the movement seen a few days ago when the cryptocurrency declined from $10,000 to lows of $9,100. One possibility that analysts are watching in the near-term is that the crypto is trading within a large descending channel and that this latest decline from $10,000 marked a rejection at the channel\u2019s upper boundary. \u201cBTC – Wouldn’t it be a hoot if this was just one giant channel with Bitcoin doing a fake-out before moving back down to the midline,\u201d one analyst questioned while pointing to the below chart. BTC Could Be Poised to Push Towards $14,000\u00a0 Assuming that this channel doesn\u2019t spark a mid-term downtrend, it is possible that Bitcoin will soon rally up to fresh post-2017 highs. This movement could be triggered by a movement over the cryptocurrency\u2019s 50-day moving average, which is sitting just above its current price level. Another respected analyst spoke about this level in a recent tweet, explaining that a move above this level would also help BTC break above a descending trendline that has been respected throughout the time following BTC\u2019s rejection at $13,800 seen last summer. \u201clet BTC reclaim MA50 and 14k+ is next imo,\u201d he explained while pointing to the below chart. Featured image from Unplash.<\/p>\n","protected":false},"author":499,"featured_media":423254,"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],"tags":[428,1119,1144,78790,76835],"class_list":["post-423795","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-btc","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n
$14,000: Bitcoin Could Set Fresh Post-2017 Highs if it Recaptures Key Moving Average<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n