Bitcoin BTCUSD jumps off $8,500. Is $9,000 once again in range?
Bitcoin suffered a heavy loss on Thursday, January 23 and dropped down to $8,328, losing 3.1 percent. We were still looking at the $8,500 - $8,300 area as a major support zone and last barrier before $8k and eventually $7,800.
On the last day of the workweek, the BTC/USD pair was trading in the $8,540 - $8,220 range and closed with a small gain to $8,424.
The weekend of January 25-26 started with another red session as BTC fell further to $8,325 after testing the $8,300 line for a third consecutive day.
On Sunday the coin made an unexpected jump and reached $8,597, adding 3.3 percent. It started trading on Monday, January 27 by forming a green candle to $8,727.
On the last day of the workweek, the BTC/USD pair was trading in the $8,540 - $8,220 range and closed with a small gain to $8,424.
The weekend of January 25-26 started with another red session as BTC fell further to $8,325 after testing the $8,300 line for a third consecutive day.
On Sunday the coin made an unexpected jump and reached $8,597, adding 3.3 percent. It started trading on Monday, January 27 by forming a green candle to $8,727.
- Trading volumes were stable and stayed in the $26 -$30 billion zone for the whole week after peaking at $40 billion on Sunday, January 19. Starting to increase again on Monday morning reaching $34 billion at the time of writing.
- Next for bulls is the $8,900 - $9,000 zone and eventually an attack of the current year high at $9,184.
- $8,300 - $8,500 continues to serve as a major support area.
- BTC is once again above all 4 EMAs on our chart.
Comment:
BTC/USD successfully reached our first target, which was $8,900 then climbed above $9,000 in the early hours of January 28. Next goal in front of bulls is to actually close above this level and prepare for an attack of the current year high ($9,184)