TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
|

Bitcoin price analysis: BTC/USD re-emerges above $9,000

  • The unstoppable declines explored the levels below $9,500.
  • An ongoing shallow recovery pulled BTC above $9,900.
Bitcoin price analysis: BTC/USD re-emerges above $9,000
John IsigeJohn IsigeFXStreet

Bitcoin and the top four cryptocurrencies have extended the weekly losses. Bitcoin infiltrated the support at $10,000. The unstoppable declines explored the levels below $9,500 before the ongoing recovery. The entire crypto market is a sea of red as bear pressure continues to build.

The technical levels on the hourly chart show Bitcoin bulls finally waking up and getting ready for revenge. An ongoing shallow recovery pulled BTC above $9,900. A correction above $10,000 will see the buyers’ confidence in the recovery increase.

The Moving Average Convergence Divergence (MACD) dived to -223. However, it has found balance and gradually forging upwards. Traders have to be on the lookout for divergences likely to signal the next price action.

The momentum towards $10,000 has potential keeps growing according to the Relative Strength Index which has emerged above the oversold. Correction towards the average will also signal movement above $10,000.

BTC/USD 1-hour chart

 

Author

John Isige

John Isige

FXStreet

John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren

More from John Isige
Share:

Editor's Picks

Ripple Price Forecast: Sellers retain control as Evernorth Holdings files with SEC to buy more XRP

Ripple Price Forecast: Sellers retain control as Evernorth Holdings files with SEC to buy more XRP

Ripple’s (XRP) correction on Monday is deepening below $1.30, reflecting growing headwinds in the broader cryptocurrency market. Based on the token’s technical picture, the path of least resistance could stay downward until the $1.30 supply area flips into support.

Bitcoin stalls around $80,000 as geopolitical tensions dampen risk appetite

Bitcoin stalls around $80,000 as geopolitical tensions dampen risk appetite

Bitcoin hovers around $80,500 on Monday after three straight weeks of correction. Rising geopolitical tensions in the Middle East continue to push oil prices higher, stoking inflation concerns and dampening risk appetite.

Crypto Today: Bitcoin, Ethereum and XRP extend losing streak as bearish momentum builds

Crypto Today: Bitcoin, Ethereum and XRP extend losing streak as bearish momentum builds

Cryptocurrency prices are broadly correcting on Monday, led by Bitcoin’s five-day sell-off. Ethereum edges lower and trades around $2,325, as sellers build momentum to retain control over the trend. Meanwhile, Ripple shows signs of consolidating.

Pi Network Forecast: PI token remains under bearish pressure despite network access and security upgrade

Pi Network Forecast: PI token remains under bearish pressure despite network access and security upgrade

Pi Network trades around $0.075 on Monday, holding steady after two consecutive days of roughly 2% losses, resulting in the lowest weekly close ever. Pi Network rolled out desktop version 0.6.4 on Thursday, focused on improving remote access and security for local AI apps.

Bitcoin extends pullback as ETF inflows clash with risk-off sentiment

Bitcoin extends pullback as ETF inflows clash with risk-off sentiment

Bitcoin remains under pressure, trading around $81,800 on Friday, recording modest losses so far this week. Despite a mild pullback, institutional demand showed signs of a comeback with spot Exchange Traded Funds recording $442.67 million in net inflows through Thursday.