After a sharp drop below $7,300, Bitcoin has now started to recover and is at $8,500. Is $9,000 the Next Level?
Bitcoin Price Medium-term Analyse
The price ofBitcoin (BTC).The trend was bearish. To make a new low of $7,300, the bears pulled the Bitcoin price below $7,700. After a sharp fall, Bitcoin prices consolidated above $7,400. Today, October 25, bulls took control of the market and pushed Bitcoin price to $8,500.
The upside is that buyers can help to strengthen and energize market conditions, which can push the price higher than $9,000 at the resistance level. The Moving Average Convergence Divergence is (meanwhile)MACDThe signal line (() and signal lines are above the zero line, which indicate a buy signal.
BTCUSD Short-term Analysis
The bullish trend is evident on the BTCUSD price chart for 1 hour. Today’s surge is the first time bulls have shown any signs of strength since the pair started its downward trend at the lower-$8,000 price, which was where it previously found significant support. It dissolved earlier in the week.
A strong bullish spike could push the price up to $9,000, $9.500 and $10,000 resistance levels. BTCUSD may fall to $8,000 if bearish pressure is present or resell at today’s buyback support of $7,400.
The MACD and signal lines are both above the zero line, which indicate a buy signal.
- Resistance Levels: $9,000 – $9,500 – $10,000
- Support Levels: $8,000 – $7,700 – $7,400
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