RATE Group | Bitcoin [BTC] Price above $9000 Drives Away the Last of the Bears
77320
post-template-default,single,single-post,postid-77320,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] Price above $9000 Drives Away the Last of the Bears

28 Jan Bitcoin [BTC] Price above $9000 Drives Away the Last of the Bears

Posted at 05:00h in Bitcoin News by

[ad_1]

Bitcoin [BTC] price broke above $9000 confirming the initiation of the bull market. It marks a series of higher lows without breaking the previous market structure. Currently, the price is en route a new higher high after reversal above $8200.

The price of Bitcoin [BTC] at 3: 15 hours UTC on 28th January 2020 is $9070.

The traders looking for a bearish correction seems to be stopping out above $9000. The break above the 200-Day DMA with $9000 will look to drive out the last of the bears. According to datamish, $50 million in shorts were liquidated in the last 24 hours.

btcusd
BTC/USD 1-Day Chart on Bitstamp (TradingView)

Nevertheless, on lower time frames, the price still needs to break above recent highs around $9190, to move further. The previous range between $9182-$9550 around the Xi pump and the break-out below the descending triangle in October last year will act resistance and consolidation levels.

Advertisement


1xbit

btcusd 4hour chart
BTC/USD 4-hour Chart on Bitstamp (TradingView)

Moreover, a…

[ad_2]

Source link

Tags:
, , , , ,