Bitcoin News
By TCA PR
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Bitcoin Is Poised to Enter the Bull Market Officially
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What Are the Levels That Require to Be Breached Before the Bullish Action?
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Many have witnessed how Bitcoin (BTC) was locked in the bearish area in the past two years. However, it’s now about to enter the bull market based on the momentum and long-term…
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At the time of writing, BTC was trading at $8,764 and tested the resistance level of $8,793.
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Once the bulls successfully push the price through the $8,793 level, BTC could shift to $9,000 200DMA.
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Bitcoin gained a great weekly close, so the bulls are now preparing to push its price to $9,000 level or even higher.
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Some crypto experts suggest that once the price of Bitcoin is being sustained above the resistance level of $8,650, a rally to $8,800 region is possible.
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Though the traders are attempting to break the price of BTC through the $9,000 mark, the $8,963 level remained to be a sticking point.
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According to the daily chart, BTC is set to reach a fresh daily higher high that is slightly above the $9,200 mark.
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Considering the long-term market structure of BTC on the daily chart, the $9,119.85 level should be sustained above.
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Furthermore, the $9,119 marks are also near the Fib retracement degree of 36.2% from a $13,800 price drop on June 26th.
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Most of the indicators suggest that Bitcoin’s bearish market is about to end. However, the crypto asset is required to contend a few significant levels as well as overcome to…
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According to seasoned analysts, BTC has to reclaim highs above $10,000 market in the weekly price charts.
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Overall, if Bitcoin successfully reached those levels while having a MACD momentum behind them, then it will likely to target its previous all-time high in the near future.
The Currency Analytics
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