{"id":386256,"date":"2019-06-15T05:00:03","date_gmt":"2019-06-15T05:00:03","guid":{"rendered":"https:\/\/uniquehot.com\/?p=386256"},"modified":"2024-06-11T13:44:12","modified_gmt":"2024-06-11T13:44:12","slug":"bitcoin-btc-price-hits-first-target-can-bulls-hit-8-8k-or-9k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-btc-price-hits-first-target-can-bulls-hit-8-8k-or-9k\/","title":{"rendered":"Bitcoin (BTC) Price Hits First Target: Can Bulls Hit $8.8K or $9K?"},"content":{"rendered":"<ul>\n<li>Bitcoin price is n a positive zone and recently climbed above the $8,500 level against the US Dollar.<\/li>\n<li>The price is gaining momentum and it seems like it could even trade towards the $8,800 level.<\/li>\n<li>There is a major bullish trend line forming with support near $8,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair might dip a few points, but it remains well bid above the $8,460 pivot level.<\/li>\n<\/ul>\n<p><em>Bitcoin price extended gains above the $8,500 resistance against the US Dollar. BTC is showing a lot of bullish signs and it could make an attempt to surpass $8,800 in the near term.<\/em><\/p>\n<h2>Bitcoin Price Analysis<\/h2>\n<p>Yesterday, we discussed the possibility of <a href=\"https:\/\/uniquehot.com\/2019\/06\/14\/bitcoin-btc-price-gaining-momentum\/\" target=\"_blank\" rel=\"noopener noreferrer \">bitcoin price hitting the $8,500 mark<\/a> against the US Dollar. The BTC\/USD pair did gain momentum above the $8,300 resistance and settled above the 100 hourly simple moving average. It opened the doors for more gains and the price rallied above the $8,400 and $8,500 resistance levels. Additionally, the upward move was strong as the price even broke the $8,600 level.<\/p>\n<p>There was a spike above the $8,700 level and the price traded to a new monthly high at $8,741. It is currently correcting lower below $8,700. Moreover, it is testing the 23.6% Fib retracement level of the recent rally from the $8,184 low to $8,741 high. On the downside, there are many supports near the $8,600 and $8,700 levels.<\/p>\n<p>Furthermore, there is a major bullish trend line forming with support near $8,500 on the hourly chart of the BTC\/USD pair. The main support is near the $8,460 level. It coincides with the 50% Fib retracement level of the recent rally from the $8,184 low to $8,741 high. Therefore, if there is a downside break below $8,460, the price could retest the <a href=\"https:\/\/uniquehot.com\/2019\/06\/13\/bitcoin-btc-price-primed-for-more-gains\/\" target=\"_blank\" rel=\"noopener noreferrer \">$8,300 support area<\/a>.<\/p>\n<p>On the upside, an initial resistance is near the $8,740 and $8,750 levels. If there is an upside break above $8,750, the price is likely to surge above the $8,800 resistance area. The next key resistance is near the $9,000 level.<\/p>\n<p><a href=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/06\/Bitcoin-13.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-386257\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/06\/Bitcoin-13.png?resize=1508%2C654\" alt=\"Bitcoin Price Analysis BTC Chart\" width=\"1508\" height=\"654\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/06\/Bitcoin-13.png?w=1508 1508w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/06\/Bitcoin-13.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/06\/Bitcoin-13.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/06\/Bitcoin-13.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/06\/Bitcoin-13.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/06\/Bitcoin-13.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Looking at the <a href=\"https:\/\/www.tradingview.com\/symbols\/XBTUSD\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">chart<\/a>, bitcoin price is clearly gaining bullish momentum above the $8,500 level. Therefore, there are chances of more upsides above the $8,750 and $8,800 levels. In the short term, there could be a downside correction, but the $8,460 level might provide support. The main uptrend support is now near the $8,300 level in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is currently reducing its bullish slope, with a few negative signs.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently correcting from the overbought zone.<\/p>\n<p>Major Support Levels \u2013 $8,500 followed by $8,460.<\/p>\n<p>Major Resistance Levels \u2013 $8,750, $8,800 and $9,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is n a positive zone and recently climbed above the $8,500 level against the US Dollar. The price is gaining momentum and it seems like it could even trade towards the $8,800 level. There is a major bullish trend line forming with support near $8,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair might dip a few points, but it remains well bid above the $8,460 pivot level. Bitcoin price extended gains above the $8,500 resistance against the US Dollar. BTC is showing a lot of bullish signs and it could make an attempt to surpass $8,800 in the near term. Bitcoin Price Analysis Yesterday, we discussed the possibility of bitcoin price hitting the $8,500 mark against the US Dollar. The BTC\/USD pair did gain momentum above the $8,300 resistance and settled above the 100 hourly simple moving average. It opened the doors for more gains and the price rallied above the $8,400 and $8,500 resistance levels. Additionally, the upward move was strong as the price even broke the $8,600 level. There was a spike above the $8,700 level and the price traded to a new monthly high at $8,741. It is currently correcting lower below $8,700. Moreover, it is testing the 23.6% Fib retracement level of the recent rally from the $8,184 low to $8,741 high. On the downside, there are many supports near the $8,600 and $8,700 levels. Furthermore, there is a major bullish trend line forming with support near $8,500 on the hourly chart of the BTC\/USD pair. The main support is near the $8,460 level. It coincides with the 50% Fib retracement level of the recent rally from the $8,184 low to $8,741 high. Therefore, if there is a downside break below $8,460, the price could retest the $8,300 support area. On the upside, an initial resistance is near the $8,740 and $8,750 levels. If there is an upside break above $8,750, the price is likely to surge above the $8,800 resistance area. The next key resistance is near the $9,000 level. Looking at the chart, bitcoin price is clearly gaining bullish momentum above the $8,500 level. Therefore, there are chances of more upsides above the $8,750 and $8,800 levels. In the short term, there could be a downside correction, but the $8,460 level might provide support. The main uptrend support is now near the $8,300 level in the near term. Technical indicators: Hourly MACD \u2013 The MACD is currently reducing its bullish slope, with a few negative signs. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently correcting from the overbought zone. Major Support Levels \u2013 $8,500 followed by $8,460. Major Resistance Levels \u2013 $8,750, $8,800 and $9,000.<\/p>\n","protected":false},"author":67,"featured_media":344598,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119],"class_list":["post-386256","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc"],"acf":[],"yoast_head":"\n<title>Bitcoin (BTC) Price Hits First Target: Can Bulls Hit $8.8K or $9K?<\/title>\n<meta name=\"description\" content=\"Bitcoin price extended gains above the $8,500 resistance against the US Dollar. 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