RATE Group | Bitcoin (BTC) at $9,500; There is No Argument to be Bearish Says Analyst
77719
post-template-default,single,single-post,postid-77719,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Bitcoin (BTC) at $9,500; There is No Argument to be Bearish Says Analyst

31 Jan Bitcoin (BTC) at $9,500; There is No Argument to be Bearish Says Analyst

Posted at 10:35h in Bitcoin News by

[ad_1]

Bitcoin (BTC), judging from candlestick arrangements, can easily surge to June 2019 highs.

Given the strong reversal of Nov-Dec 2019 losses and positive signals generated by one of the most closely followed technical indicator, the MACD, there is little argument to remain bearish. This is according to one of the crypto space most respected trader, FlibFlib, who took to twitter to express his two cents.

Hints from the Bitcoin Chart

Bitcoin BTC Market Performance
Bitcoin BTC Market Performance

At pixel time, BTC is trading at over $9,500 and retesting a key liquidation level. For all there is, bulls are firmly in control and have reversed losses of Dec 2019.

As it is, it is highly likely that prices will close above Nov 2019 highs, setting the foundation for another rally that may lift BTC further into the green.

Advertisement


1xbit

Going forward, it is imperative that BTC bulls comprehensively break and close above the $9,500-600 resistance zone at the back of high trading volumes.

Bitcoin BTC Monthly Chart for Jan 30
Bitcoin BTC Monthly Chart…

[ad_2]

Source link

Tags:
, , , , ,