RATE Group | Bitcoin Price Weekly Analysis – BTC/USD Could Break $10,000
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Bitcoin Price Weekly Analysis – BTC/USD Could Break $10,000

29 Apr Bitcoin Price Weekly Analysis – BTC/USD Could Break $10,000

Posted at 07:47h in Bitcoin News by

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Key Points

  • Bitcoin price remains in a decent uptrend with supports at $9,200 and $8,600 against the US Dollar.
  • There is a key bullish trend line in place with support at $9,150 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
  • The pair is likely to move further higher and it could soon break the $10,000 hurdle in the near term.

Bitcoin price is moving nicely above the $8,600 support against the US Dollar. Going forward, BTC/USD is poised to extend gains above $10,000 and $10,500.

Bitcoin Price Trend

This past week, bitcoin price gained traction and traded towards the $9,800 level against the US Dollar. It traded as high as $9,742 before sellers appeared. Later, a downside correction was initiated and the price declined below the $9,500 and $9,200 support levels. The price even broke the 23.6% Fib retracement level of the last leg from the $7,786 low to $9,742 high. Finally, there was a spike below the $9,000 level before buyers reappeared.

BTC price tested the 61.8% Fib…

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