{"id":423827,"date":"2020-05-14T03:28:36","date_gmt":"2020-05-14T03:28:36","guid":{"rendered":"https:\/\/ktsl888.com\/?p=423827"},"modified":"2024-06-11T11:07:34","modified_gmt":"2024-06-11T11:07:34","slug":"bitcoin-btc-could-propel-to-10000","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-btc-could-propel-to-10000\/","title":{"rendered":"Bitcoin Smashes Heavy Resistance: Here\u2019s What Could Propel It To $10,000"},"content":{"rendered":"<p><em>Bitcoin broke a major resistance zone near $9,000 and $9,100 against the US Dollar. BTC price is gaining momentum and it could soon climb above $9,500 and test $10,000.<\/em><\/p>\n<ul>\n<li>Bitcoin started a strong rise and broke the key $9,100 resistance zone.<\/li>\n<li>The price is now trading close to $9,400 and it might soon attempt to clear $9,500.<\/li>\n<li>There is a major bullish trend line forming with support near $9,120 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could accelerate its rise if there is a proper H4 close above $9,500 and $9,570.<\/li>\n<\/ul>\n<h2>Bitcoin Rises Sharply<\/h2>\n<p>Yesterday, we discussed how <a href=\"https:\/\/ktsl888.com\/2020\/05\/13\/bitcoin-btc-breaking-9100-could-spark-fresh-bull-run\/\" target=\"_blank\" rel=\"noopener \">bitcoin price could gain bullish momentum<\/a> if it breaks $9,000 against the US Dollar. BTC price did manage to surpass the $9,000 resistance and the 100 hourly simple moving average.<\/p>\n<p>The bulls even pushed the price above the key $9,100 resistance zone. There was a break above this week\u2019s followed bearish trend line with resistance near $8,910 on the hourly <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">chart<\/a> of the BTC\/USD pair.<\/p>\n<figure id=\"attachment_423828\" aria-describedby=\"caption-attachment-423828\" style=\"width: 1828px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/05\/Bitcoin-11.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-423828\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/05\/Bitcoin-11.png?resize=1828%2C868\" alt=\"Bitcoin Price\" width=\"1828\" height=\"868\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/05\/Bitcoin-11.png?w=1828 1828w, https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/05\/Bitcoin-11.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/05\/Bitcoin-11.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/05\/Bitcoin-11.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/05\/Bitcoin-11.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/05\/Bitcoin-11.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/05\/Bitcoin-11.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-423828\" class=\"wp-caption-text\">Bitcoin Price<\/figcaption><\/figure>\n<p>Bitcoin traded as high as $9,408 and it is currently consolidating gains. An initial support on the downside is near the $9,120 level. It is close to the 23.6% Fib retracement level of the recent rise from the $8,186 low to $9,408 high.<\/p>\n<p>More importantly, there is a major bullish trend line forming with support near $9,120 on the same chart. If there is a downside break below the trend line, the price could correct lower towards the $9,000 support.<\/p>\n<p>On the upside, the $9,400 level is an initial resistance zone. The <a href=\"https:\/\/ktsl888.com\/2020\/05\/12\/bitcoin-needs-to-clear-9100-for-fresh-rally\/\" target=\"_blank\" rel=\"noopener \">main resistance<\/a> is near the $9,500 and $9,570 levels. If the bulls gain pace above the $9,570 resistance, the price could start a strong increase in the coming sessions. The next major hurdle for the bulls is seen near the $10,000 level.<\/p>\n<h2>Another Decline?<\/h2>\n<p>If bitcoin fails to stay above the $9,000 support, there are chances of more losses towards the $8,800 support level. It is close to the 50% Fib retracement level of the recent rise from the $8,186 low to $9,408 high.<\/p>\n<p>Any further losses below the $8,800 support zone could open the doors for a larger decline towards the $8,500 support in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is slowly losing momentum in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well above the 60 level.<\/p>\n<p>Major Support Levels \u2013 $9,120 followed by $9,000.<\/p>\n<p>Major Resistance Levels \u2013 $9,400, $9,570 and $10,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin broke a major resistance zone near $9,000 and $9,100 against the US Dollar. BTC price is gaining momentum and it could soon climb above $9,500 and test $10,000. Bitcoin started a strong rise and broke the key $9,100 resistance zone. The price is now trading close to $9,400 and it might soon attempt to clear $9,500. There is a major bullish trend line forming with support near $9,120 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could accelerate its rise if there is a proper H4 close above $9,500 and $9,570. Bitcoin Rises Sharply Yesterday, we discussed how bitcoin price could gain bullish momentum if it breaks $9,000 against the US Dollar. BTC price did manage to surpass the $9,000 resistance and the 100 hourly simple moving average. The bulls even pushed the price above the key $9,100 resistance zone. There was a break above this week\u2019s followed bearish trend line with resistance near $8,910 on the hourly chart of the BTC\/USD pair. Bitcoin traded as high as $9,408 and it is currently consolidating gains. An initial support on the downside is near the $9,120 level. It is close to the 23.6% Fib retracement level of the recent rise from the $8,186 low to $9,408 high. More importantly, there is a major bullish trend line forming with support near $9,120 on the same chart. If there is a downside break below the trend line, the price could correct lower towards the $9,000 support. On the upside, the $9,400 level is an initial resistance zone. The main resistance is near the $9,500 and $9,570 levels. If the bulls gain pace above the $9,570 resistance, the price could start a strong increase in the coming sessions. The next major hurdle for the bulls is seen near the $10,000 level. Another Decline? If bitcoin fails to stay above the $9,000 support, there are chances of more losses towards the $8,800 support level. It is close to the 50% Fib retracement level of the recent rise from the $8,186 low to $9,408 high. Any further losses below the $8,800 support zone could open the doors for a larger decline towards the $8,500 support in the near term. Technical indicators: Hourly MACD \u2013 The MACD is slowly losing momentum in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well above the 60 level. Major Support Levels \u2013 $9,120 followed by $9,000. Major Resistance Levels \u2013 $9,400, $9,570 and $10,000.<\/p>\n","protected":false},"author":67,"featured_media":423829,"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":[428,1144,78790,76835],"class_list":["post-423827","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-analysis","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n<title>Bitcoin Smashes Heavy Resistance: Here\u2019s What Could Propel It To $10,000<\/title>\n<meta name=\"description\" content=\"Bitcoin broke a major resistance zone near $9,000 and $9,100. 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