Bitcoin (BTC) Price Analysis (May 8)

2020-5-8 09:50

Key Highlights

• Bitcoin has now been on a relative increase as traded against the US dollar.
• Bears may exert small pushes around a high market at $10,000 price territory.
• A downward pressure against accumulation price territory at $9,000, poses a warning to continue with long-position orders of the market.

Bitcoin (BTC) Price Analysis

• Major distribution territories: $10,500, $11,000, $11,500
• Major accumulation territories: $9,000, $8,500, $8,000

There has been a relative increase in BTC’s valuation as paired with the US dollar for about a couple of hours. The crypto-market was lately trading in a range moving format of variant territories has at last gone a bit higher to presently trading at a high market value of $10,000.

As BTC/USD bulls have finally succeeded at breaking past its last retarding upper range trading line at $9,500 mark, more buying pressures are to still feature in the near time. Meanwhile, there may be small bearish pushes from $10,000 current market line down around the $9,500 point. But, a downward break of a $9,000 price territory will cause more selling pressures in the market.

Bitcoin Technical Indicators Reading

The Upper Bollinger Band trend-line has been stretching towards the north direction with price trading along its path. That signifies that the crypto-economy is in an upward straight-line trading trend. The Middle Bollinger Band and the 50-day SMA trading indicators are below the current market line, pointing to the north to indicate an ongoing bullish move in BTC/USD market. The Stochastic Oscillators have penetrated the overbought region. And, they have joined the hairs within it, to begin a consolidation move. That may mean that bulls will be in the market’s control until the next trading sessions.

Conclusion

The expectation has now been on the rise for BTC/USD buyers to hope for more possible upswings in the market. However, new buyers may have to be on the lookout for reversals from a bearish move before considering joining the market uptrend. Meanwhile, a downward pressure against accumulation price territory at $9,000, poses a warning to continue with long position orders of the market.

 

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 71051.35 (+0.20%)
Объем 24H $52.987b
Изменеия 24h: 5.12 %, 7d: -1.78 %
Cегодня L: $69039.59 - H: $71289.12
Капитализация $1405.272b Rank 1
Цена в час новости $ 9860.36 (620.58%)

price bitcoin territory market btc analysis may

price bitcoin → Результатов: 126


Фото:

Bitcoin Price To See 70%+ Powerful Bull Wave To Push It Over $100,000, How High Can It Go?

The Bitcoin price is slowly breaching the $70,000 mark, showcasing steady upward momentum despite downward pressure from the bearish performance of the US equities market. Taking note of Bitcoin’s recent price movements, a crypto analyst has suggested that the pioneer cryptocurrency could be gearing up for a strong bull wave that could drive its price by over 70%, pushing it past the $100,000 milestone.

2024-10-26 04:00


Фото:

Analysts Predict Bitcoin Price Could Crash To $40,000, But There’s Good News

Despite initial expectations of a steady price increase and a robust bull run this year, Bitcoin (BTC) has suffered severe declines, pushing its price below the $60,000 threshold. Due to the cryptocurrency’s prolonged bearish performance, a crypto analyst has warned that Bitcoin could decline even further, predicting a potential crash below $40,000.

2024-9-4 22:30


Фото:

Michael Saylor Sets Audacious $49 Million Bitcoin Price Target – Details

The price of Bitcoin has recently returned below $68,000, as it attempts to stage a recovery following a significant price dip in the last week. While the crypto market leader attempts to find a support, popular American billionaire and Bitcoin maxi Michael Saylor has released a daring 21-year price prediction for the premier cryptocurrency.

2024-7-29 14:00