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Bitcoin Price Analysis: BTC/USD closing in on the big $10,000 mark

  • Bitcoin price is trading in positive territory, up 0.10% in the second half of the session. 
  • BTC/USD bulls have been more or less rallying for eight weeks, moving from $6500. 
  • The psychological $10,000 mark is very much within reaching distance. 
Bitcoin Price Analysis: BTC/USD closing in on the big $10,000 mark
Ken ChigboKen ChigboIndependent Analyst

BTC/USD weekly chart

The price is heading for a consecutive week in the green, following the price smashing two critical barriers; $9000 and $9500. 

                

BTC/USD daily chart

There is some resistance around the high area of October at the $9700-9950 range. If broken down can provide a fast move into $10,500 territory. 

Spot rate:                9762.10

Relative change:     +0.10%

High:                        9875.44

Low:                         9714.36

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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