RATE Group | Bitcoin Price Reclaims $10K Reversing Weekend Losses, XTZ Soars 13%
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Bitcoin Price Reclaims $10K Reversing Weekend Losses, XTZ Soars 13%

18 Feb Bitcoin Price Reclaims $10K Reversing Weekend Losses, XTZ Soars 13%

Posted at 21:46h in Bitcoin News by

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After a bearish weekend which saw Bitcoin (BTC) price drop 8.76% to $9,444, the price has again reclaimed the $10K mark. Prior to the breakout, the price was steadily moving upward, reclaiming the $9,800 support on increasing trading volume. 

Over the weekend many traders expressed fear that a drop below $9,450 would solidify a bearish trend reversal but previous analysis by Cointelegraph suggested that a sharp retrace that could pull the price to the $9,500 to $8,800 zone was needed after Bitcoin’s recent strong performance.

Crypto market daily price chart

Crypto market daily price chart. Source: Coin360

Cointelegraph contributor Michaël van de Poppe also explained that above $9,450 Bitcoin remained bullish as many traders would be looking to close the CME gap at $10,460. 

Despite the weekend correction, a golden cross between the 50 and the 200-day moving average was unaffected and the relative strength index (RSI) on the daily timeframe remained near 50. 

BTC USD daily chart

BTC USD daily chart. Source: TradingView

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