RATE Group | Bitcoin Price Pushes Above $8.8K as Bulls Attempt to Reclaim $9,000
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Bitcoin Price Pushes Above $8.8K as Bulls Attempt to Reclaim $9,000

27 Jan Bitcoin Price Pushes Above $8.8K as Bulls Attempt to Reclaim $9,000

Posted at 22:54h in Bitcoin News by

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After a pleasant weekly close, Bitcoin (BTC) bulls turned up Monday prepared to push the price to the $9K mark and possibly above. Over the weekend numerous crypto analysts suggested that if the price sustained above the $8,650 resistance Bitcoin would rally to $8,800 to set a daily lower high, consolidate, then make another run at the $9,200 mark. 

Bitcoin daily price chart. Source: Coin360

All, except the latter, has come to pass and at the time of writing traders are attempting to push the price through 9,000 but $8,963 has been a sticking point. Purchasing volume continues to rise and the 6-hour timeframe shows the RSI pushing above 72 as bullish momentum continues to rise on the moving average convergence divergence (MACD) histogram. 

BTC USD 6-hour chart. Source: TradingView

Neither indicator is in overbought territory and at the moment Chaikin Money Flow (CMF) oscillator has flipped positive above 0 and continues to rise, demonstrating that bulls are continuing to pump funds…

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