Ken Chigbo
Independent Analyst
- Bitcoin price seen holding gains of 1% in the latter part of Wednesday, maintain upside momentum.
- BTC/USD has just two major barriers ahead in the way of achieving $7000 mark again and beyond.
Bitcoin price is seen trading in the green within the latter part of the session on Wednesday. Holding gains of some 1%. BTC/USD has managed to maintain upside momentum, in comparison to some of its peers losing steam.
BTC/USD bulls are attempting to convincingly breakdown the $6500 territory. The intentions of the market bulls are quite strong. The last nine trading sessions, including today – Wednesday, the price has closed higher seven times out of those.
Should BTC/USD manage to firmly push through and out of $6500 territory, the next major barrier is seen at $6600, last traded here 8th October. Lastly, eyes would then be on $6800, which could see the price flying above $7000. This hasn’t been seen since 5th September, when heavy selling pressure hit the market.
BTC/USD daily chart
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