After two days of crypto market consolidation in the high-$8,000s, Bitcoin (BTC) just broke 3% higher from the $8,700 range equilibrium to tap the key $9,000 psychological and technical resistance on Binance and other top exchanges for the first time in just over two months.<\/p>\n
Since hitting $9,000, the crypto asset has paused, retracing to $8,950 as of the time of writing this as Bitcoin seemingly encountered vast selling pressure at $9,000.<\/p>\n
While the cryptocurrency has yet to make a daily price close above they key $9,000 level, analysts say that it sets a positive precedent for this market’s trend. In fact, a prominent trader says that a 30% rally to $11,500 might just be next.<\/p>\n
This should lead to equally as bullish price action for other crypto assets, including Ethereum<\/a>, XRP<\/a>, and the rest of the nine yards, so to speak.<\/p>\n Indicators all over the crypto market have recently flipped bullish, implying another leg higher is imminent.<\/p>\n Adaptive Capital\u2019s Murad Mahmudov, formerly of Goldman Sachs,\u00a0recently wrote<\/a>\u00a0on Twitter that \u201cbears are deluded at best, dishonest at worst,\u201d drawing attention to the below chart which shows that BTC has crossed above a number of key moving averages. These are including but not limited to the 128-day simple moving average (SMA), 200-day exponential moving average (EMA), 50-week SMA, and 100-week SMA.<\/p>\n bears are deluded at best, dishonest at worst pic.twitter.com\/mHedoqmSwL<\/a><\/p>\n — Murad (@MustStopMurad) January 14, 2020<\/a><\/p><\/blockquote>\nCrypto Indicators Flip Bullish Across the Board<\/h2>\n
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