Bitcoin market overview: BTC/USD brushes shoulders with $10,000


  • Bitcoin has appreciated in value breaking away from the losing streak post since last week.
  • Correction above $10,000 could relaunch Bitcoin in the path towards $14,000.

Bitcoin has recovered significantly from the lows hit this week at $9,000. In less than 12 hours the price has stepped above the moving averages including the 100 Simple Moving Average (SMA) 15-mins, 50 SMA 15-mins, and the 100 Exponential Moving Average (EMA) 15-mins.

Although Facebook appeared before the U.S congress today following the Senate hearing yesterday regarding Libra, Bitcoin has appreciated in value breaking away from the losing streak post since last week.

Also Read: Grayscale Investments grew 84% in the Q2 of 2019 amid the crypto rally

At press time, Bitcoin is trading at $9,888 after brushing shoulders with the 50% Fib retracement level taken between the last swing high at $10,000 to a swing low of $9,090. Bitcoin bulls intend to close the trading today above $10,000. Besides, the momentum is supported by the Moving Average Convergence Divergence (MACD), which has crossed into the positive region.

Moreover, the Relative Strength Index (RSI) is holding ground at 70 after recovering from levels under 30. Immediate support has been established at $9,800, $9,400 as well as $9,000. Correction above $10,000 could relaunch Bitcoin in the path towards $14,000.

BTC/USD 15-mins chart

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

BTC/USD daily confluence detector shows healthy support level at $10,075

Bitcoin has had an overwhelmingly bearish day wherein its price dropped from $10,771 to $10,135, reaching a low of $9,856. Over the last 2 days, Bitcoin has canceled out the gains made by the bulls in the 5 days before that.

More Bitcoin News

Crypto market update: BTC falls below $10,000 as market plunges

Bears continue to have a stranglehold on the market as the cryptos bled for the third straight day. The top three coins experienced heavy losses over the last three days. LEO was the biggest loser among the top 20.

More Cryptocurrencies News

Ripple market overview: XRP/USD keeps sinking as bears retain control

XRP/USD has fallen from $0.266 to $0.265 in the early hours of Thursday. Over the last four days, the price of Ripple has fallen from $0.284 to $0.265. The hourly breakdown for Wednesday shows that the price fell from $0.274 to $0.26.

More Ripple News

Ethereum: Bulls try to end on a high following another overwhelmingly bearish day

Ethereum has ended up with a second bearish day in a row, wherein it fell from  $196.60 to $187. The hourly breakdown of the price shows that the price plummeted from $196.60 to $180 within 12 hours.

More Ethereum News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Safe-haven or a high-yield asset? Bitcoin qualifies for both

The cryptocurrency market has been a mixed picture this week. Bitcoin attempted to settle above $12,000 practically every single day of the week...

Read the weekly forecast

BTC

ETH

XRP