The Bitcoin or BTCUSD pair is currently trading near US$ 8300 level with the total market cap of around $ 140 Billion at the time of writing. In the last 1 Week, the price has hiked by US$ 533.30 (6.91%) with a total volume of over $ 5.11 Billion. The weekly highest price, $ 8,450, was on Sunday. The Bitcoin price gained a bit more traction as the fundamentals & technicals seem to be supporting. Will the Bitcoin price hike above $ 8500 levels in coming days?
The 100 SMA is above the longer-term 200 SMA to indicate that the path of least resistance is to the upside. The BTCUSD pair might make a bullish move in short-term as the gap between the moving average narrowed. Yesterday, we saw a price hike above the 38.2% Fibo. retr. zone and still the Bitcoin price is trying to make the hawkish move above the golden ratio zone. Showing the bullish trend, the Bitcoin price is well trading above the 61.8% Fib. Retracement zone today. A price break above the daily resistance zone (R1 8350) is necessary to gain momentum in prices.
If the BTCUSD pair crosses the $ 8305 level than an upward move towards US$ 8,500- 8,700 level could be seen in coming days. I am highly bullish on Bitcoin and expect the price to break above $ 8500 level.
The 100 SMA is above the longer-term 200 SMA to indicate that the path of least resistance is to the upside. The BTCUSD pair might make a bullish move in short-term as the gap between the moving average narrowed. Yesterday, we saw a price hike above the 38.2% Fibo. retr. zone and still the Bitcoin price is trying to make the hawkish move above the golden ratio zone. Showing the bullish trend, the Bitcoin price is well trading above the 61.8% Fib. Retracement zone today. A price break above the daily resistance zone (R1 8350) is necessary to gain momentum in prices.
If the BTCUSD pair crosses the $ 8305 level than an upward move towards US$ 8,500- 8,700 level could be seen in coming days. I am highly bullish on Bitcoin and expect the price to break above $ 8500 level.
Comment:
CREDITS “CS” coin on KuCoin exchange is showing a large number of buying rate during the last days. It is showing a stability in the downtrend cryptomarket, for today's trading session reached a local maximum of 0.0009260 CS / ETH and after correction is currently traded at a price of 0.0009152 CS / ETH. The large demand for a coin on the KuCoin exchange is observed in the range 0.0008936 - 0.0009800 CS / ETH.