- 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.