RATE Group | Bitcoin Poised To Surge Above $10K If It Holds This Crucial Support
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Bitcoin Poised To Surge Above $10K If It Holds This Crucial Support

18 May Bitcoin Poised To Surge Above $10K If It Holds This Crucial Support

Posted at 10:25h in Bitcoin News by

Bitcoin is up around 4% and it is approaching the $10,000 resistance against the US Dollar. BTC price is likely to extend its rally above $10,000 unless it dives below the $9,500 support.

  • Bitcoin is currently gaining bullish momentum and trading near the last swing high at $9,950.
  • The price is trading well above the $9,600 support and the 100 hourly simple moving average.
  • There is a key bullish trend line forming with support near $9,720 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could correct a few points, but there are high chances of an upside break above $9,950 and $10K.

Bitcoin Gaining Bullish Momentum

After a short term downside correction, bitcoin found support near the $9,200 zone against the US Dollar. BTC price remained well bid above the 100 hourly simple moving average and started a fresh increase from $9,200.

There was a break above the $9,400 and $9,500 resistance levels, opening the doors for another positive wave. The upward move was such…

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