- Bitcoin breaks and settles over the $9k level
- Bitcoin (BTC) to explode further in the coming days
- Bullish Bitcoin price predictions 2020
Bitcoin News Today – The past couple of hours have been really bullish for Bitcoin (BTC). The digital currency began to break out of a consolidation pattern that has held BTC price below the $9k level for about two days. Some minutes ago, the world’s largest digital currency by market cap broke over the $9k level and topped out at $9,120, posting more gains as the close of the weekly candle approaches.
Bitcoin (BTC) has corrected slightly since then, returning to $9,088 at the time of writing. Nevertheless, analysts are saying that this breakout, which helped Bitcoin (BTC) to break over its multi-month high, is a precursor to even more gains in the next couple of days.
Bitcoin (BTC) to Explode Further in the Coming Days
CryptoDude – a popular crypto analyst on Twitter – pointed out on Saturday that the $9,080 mark is a crucial level from a high timeframe perspective of BTC. If the digital currency is able to hold gains over the major hurdle on a weekly basis after Sunday night’s candles close, it will show that there is a macro reversal on the horizon. That will push the price of Bitcoin (BTC) back to the $14k level seen mid-2019 and possibly beyond, especially with the impending halving event.
Bitcoin (BTC) Price Today – BTC / USD
$BTC Critical level at higher TFs, will try my chances with a short if it closes below this range at 4H – bulls have held it well so far with 2 touches yet no break therefore I'm not confident enough in getting in a position now.
Flat, caution for bulls if they lose support. pic.twitter.com/Bs7YNf0HgT
— CryptoDude (@cryptodude999) January 19, 2020
Another crypto analyst – CryptoBirb – pointed out that the latest increase has allowed BTC to break over a flat channel that the digital currency has traded in for almost one week now, which formed a low of $8,555 and a high of $9k.
According to the analyst, the breakout of the channel could push the price of Bitcoin (BTC) up by 4 percent from where it is currently. A four percent increase right now would push BTC to USD price to $9,400.
— CRYPTO₿IRB (@crypto_birb) January 18, 2020
More Bullish Bitcoin Predictions
A digital currency trader who is known as Filb Filb recently said that he expects the price of Bitcoin (BTC) to make a raid soon on the previous hurdle point of $9,555. He pointed out that this is where the price of the digital currency topped out in October and early November last year in the wake of the now-infamous 40 percent “China pump.”
If Bitcoin gets to that level, it would satisfy textbook market trends of assets visiting support and hurdle points several times before establishing a direction. Filb Filb called the 40 percent increase in the price of BTC to almost $10k, then the subsequent plunge by 35 percent towards the $6k level to interact with the miner’s bottom range. As such, this trader has a prestigious track record.