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BTC/USD to breach $9,000 soon?

  • BTC / USD is trading for $ 8,350 in the early hours of Thursday.
  • The bulls point to the $ 10,000 level.

The Bitcoin bulls raised the price from $ 8,200 to $ 8,350 in the early hours of Thursday. Earlier on Wednesday, BTC / USD went up from $ 8,040 to $ 8,200. The price reached $ 8,240 before the bears corrected the market and reduced it to $ 8,145. The bulls re-entered the market and refused to abandon their domain. If they continue their momentum, the $ 10,000 could be broken soon.

BTC / USD daily chart

  • The enlarged jaw of the 20-day Bollinger band shows increasing market volatility.
  • The last session of the BTC / USD daily price chart slid back into the upper curve of the Bollinger band.
  • On the positive side, the closest resistance level is at $ 8,350.
  • The market is trending above the SMA 200, SMA 50 and SMA 20 curves.
  • The signal line has moved away from the MACD line, showing an increasing bullish momentum.
  • The Relative Strength Index (RSI) indicator is trending in the overbought area.
  • The Elliot wave oscillator shows 15 consecutive bullish sessions.

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