Bitcoin price analysis: BTC/USD upside momentum firming, $10,000 eyed

  • Bullish momentum gathers pace for BTC/USD
  • Price up over 60% from last week’s lows
  • $10,000 next potential test of resistance


The Bitcoin price is continuing to gather bullish momentum, in its current move to the upside, seen up around 9% on Thursday. General market jitters within the crypto space, have some what eased over the last few trading sessions. The price is now up over 60% since the lows produced last week on SEC and China panic, however, still down around 100% from the highs printed at the back end of 2017.

Technically the wind is behind BTC/USD in its move north, the price has made a move above the 61.8% Fibonacci, with eyes locked in on the phycological $10,000 mark. Further to the upside, would see resistance at the top of the channel, seen heading into $12,000, this is also where the 100 DMA currently sits, looking on the daily time frame. 


BTC/USD daily chart

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