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{"id":425740,"date":"2020-06-01T03:58:03","date_gmt":"2020-06-01T03:58:03","guid":{"rendered":"https:\/\/uniquehot.com\/?p=425740"},"modified":"2024-06-12T09:19:19","modified_gmt":"2024-06-12T09:19:19","slug":"bitcoin-btc-above-9750-larger-rally","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-btc-above-9750-larger-rally\/","title":{"rendered":"Bitcoin Above $9,750 Would Make Case for Larger Rally: Here\u2019s Why"},"content":{"rendered":"

Bitcoin is trading nicely above the $9,400 support zone against the US Dollar. BTC price is likely to continue higher towards $10,000 if it clears $9,600 and $9.750.<\/em><\/p>\n

\n
Bitcoin is trading with a positive bias above the $9,400 support zone.<\/li>\n
The price could struggle to clear the $9,600 and $9,750 resistance levels in the short term.<\/li>\n
There was a break above a key contracting triangle with resistance near $9,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could start a strong increase if it clears the $9,600 and $9,750 resistance levels.<\/li>\n<\/ul>\n
Bitcoin Price Could Rise Further<\/h2>\n
After a successful close above the $9,300 level, bitcoin price extended its rise above the $9,400 resistance<\/a> against the US Dollar. BTC price even settled above the $9,500 level and the 100 hourly simple moving average.<\/p>\n
It traded as high as $9,745 and recently started a downside correction. It traded below the $9,600 and $9,500 levels. However, the previous key resistance near $9,400 and the 100 hourly simple moving average acted as major supports.<\/p>\n
A low is formed near $9,381 and bitcoin is currently rising. There was a break above the 23.6% Fib retracement level of the key decline from the $9,745 high to $9,381 low.<\/p>\n
Moreover, there was a break above a key contracting triangle with resistance near $9,500 on the hourly chart<\/a> of the BTC\/USD pair. The pair is now testing the 50% Fib retracement level of the key decline from the $9,745 high to $9,381 low.<\/p>\n
$\"Bitcoin$ <\/a>
Bitcoin Price<\/figcaption><\/figure>\n
On the upside, the first major resistance is near the $9,600 level. The next major hurdle is near the $9,750 level, above which the bulls are likely to aim a larger rally towards $10,000 or $10,500 in the near term.<\/p>\n
Dips Supported in BTC<\/h2>\n
If bitcoin fails to continue higher above $9,600 or $9,700, there could be a downside correction. An initial support is near the $9,450 level or the 100 hourly simple moving average.<\/p>\n
The main support<\/a> is still near the $9,400 level, below which the price could extend its decline towards the .<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is slowly reducing its current bullish slope.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently well above the 60 level.<\/p>\n
Major Support Levels \u2013 $9,350 followed by $9,300.<\/p>\n
Major Resistance Levels \u2013 $9,650, $9,800 and $10,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin is trading nicely above the $9,400 support zone against the US Dollar. BTC price is likely to continue higher towards $10,000 if it clears $9,600 and $9.750. Bitcoin is trading with a positive bias above the $9,400 support zone. The price could struggle to clear the $9,600 and $9,750 resistance levels in the short term. There was a break above a key contracting triangle with resistance near $9,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a strong increase if it clears the $9,600 and $9,750 resistance levels. Bitcoin Price Could Rise Further After a successful close above the $9,300 level, bitcoin price extended its rise above the $9,400 resistance against the US Dollar. BTC price even settled above the $9,500 level and the 100 hourly simple moving average. It traded as high as $9,745 and recently started a downside correction. It traded below the $9,600 and $9,500 levels. However, the previous key resistance near $9,400 and the 100 hourly simple moving average acted as major supports. A low is formed near $9,381 and bitcoin is currently rising. There was a break above the 23.6% Fib retracement level of the key decline from the $9,745 high to $9,381 low. Moreover, there was a break above a key contracting triangle with resistance near $9,500 on the hourly chart of the BTC\/USD pair. The pair is now testing the 50% Fib retracement level of the key decline from the $9,745 high to $9,381 low. On the upside, the first major resistance is near the $9,600 level. The next major hurdle is near the $9,750 level, above which the bulls are likely to aim a larger rally towards $10,000 or $10,500 in the near term. Dips Supported in BTC If bitcoin fails to continue higher above $9,600 or $9,700, there could be a downside correction. An initial support is near the $9,450 level or the 100 hourly simple moving average. The main support is still near the $9,400 level, below which the price could extend its decline towards the . Technical indicators: Hourly MACD \u2013 The MACD is slowly reducing its current bullish slope. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently well above the 60 level. Major Support Levels \u2013 $9,350 followed by $9,300. Major Resistance Levels \u2013 $9,650, $9,800 and $10,000.<\/p>\n","protected":false},"author":67,"featured_media":425742,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3,4],"tags":[428,1144,78790,76835],"class_list":["post-425740","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-analysis","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nBitcoin Above $9,750 Would Make Case for Larger Rally: Here\u2019s Why<\/title>\n<meta name=\"description\" content=\"Bitcoin is trading nicely above the $9,400 support zone against the US Dollar. 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His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/uniquehot.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Above $9,750 Would Make Case for Larger Rally: Here\u2019s Why","url":"http:\/\/uniquehot.com\/news\/bitcoin-btc-above-9750-larger-rally\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-btc-above-9750-larger-rally\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/shutterstock_729876625.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/shutterstock_729876625.jpg?fit=1000%2C668"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btcusd","btcusdt","xbtusd"],"dateCreated":"2020-06-01T03:58:03Z","datePublished":"2020-06-01T03:58:03Z","dateModified":"2024-06-12T09:19:19Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Above $9,750 Would Make Case for Larger Rally: Here\\u2019s Why\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-btc-above-9750-larger-rally\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-btc-above-9750-larger-rally\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/shutterstock_729876625.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/shutterstock_729876625.jpg?fit=1000%2C668\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2020-06-01T03:58:03Z\",\"datePublished\":\"2020-06-01T03:58:03Z\",\"dateModified\":\"2024-06-12T09:19:19Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/shutterstock_729876625.jpg?fit=1000%2C668","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/425740","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=425740"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/425740\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/425742"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=425740"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=425740"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=425740"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}

Dips Supported in BTC<\/h2>\nIf bitcoin fails to continue higher above $9,600 or $9,700, there could be a downside correction. An initial support is near the $9,450 level or the 100 hourly simple moving average.<\/p>\n