Soon, the Bitcoin exchange rate may rise to $ 9,200, suggested Omkar Godbole, an analyst at Coindesk. According to him, the price of a coin for growth needs to overcome two levels of resistance. The first of them is local, located at around $ 8800, and the second is expressed by a 200-day moving average, passing at $ 9000, the expert is sure.
He added that in favor of the long-term rise in the price of Bitcoin, the MACD histogram speaks. Its indicator for the first time since August rose above zero, which signals a change in a downtrend to an uptrend, the analyst explained.
Perspective Buying Opportunities
The rise in the price of Bitcoin is also awaited by analyst and trader Scott Melker. In his Twitter account, he posted a coin hourly chart showing a double bottom reversal pattern that signals the start of an uptrend.
The price of the asset overcame the resistance of $ 8500, which is also favorable for its growth, concluded a trader.
An analyst, Aayush Jindal, adheres to the “bullish” mood. He indicated the same resistance levels as Godbole but added another at $ 9500. The expert also pointed to a gradual decrease in overbought Bitcoin, which is a good prerequisite for the growth of its value.
Its collapse is possible only if it falls below the support zone of $ 8400-8500, Jindal suggested. It is formed from a local level, and a 100-hour moving average says the analyst.
All experts agreed that Bitcoin is in an uptrend and will rise in price shortly. Key resistance levels are called $ 8800, $ 9000, $ 9200 and $ 9500. If the price of the coin begins to decline, $ 8500, $ 8400, and $ 8200 will act as support.
This article is intended as a news item to inform our readers of various events and developments that affect, or that might in the future affect, the value of the cryptocurrency described above. The information contained herein is not intended to provide, and it does not provide, sufficient information to form the basis for an investment decision, and you should not rely on this information for that purpose.