BTC/USD pumps 1.5% but it is a steep climb to $9,500

BTC/USD price up by more than 1.5% but sellers are likely to limit gains and push the cryptocurrency back into range.

Bitcoin price has jumped 1.5% to trade above $9,320 and see the bulls eye a revisit to resistance levels around $9,500 for the first time in weeks.

At the time of writing, BTC/USD is trading at $9,342 with its intraday trades hitting a high of $9,359. As well as Bitcoin, top altcoin Ethereum has turned green on the day but is similarly facing major resistance above $240. Litecoin (2%), Zcash (3%), and IOTA (5.3%) lead the upsurge.

According to crypto data analytics platform Skew, the upside provides the “first sign of life” for Bitcoin in over a week.

Coinbase 5
BTC/USD pumps 1.5% but it is a steep climb to $9,500 1
BTC Swap vs. Spot price chart. Source: Skew on Twitter

BTC/USD breakout faces tough barriers

Bitcoin’s takeoff from consolidation levels under $9,200 currently faces a tough hurdle at $9,371. A break above this price barrier could allow bulls an easy run to $9,500.

As has been the case over the past several weeks, low volatility and limited volume are putting brakes on an upward move. However, according to this technical analyst, Bitcoin’s move above $9,300 maintains the cryptocurrency’s three-month uptrend.

BTC/USD pumps 1.5% but it is a steep climb to $9,500 2
Chart showing BTC/USD has maintained an uptrend line since May. Source: Rekt Capital

According to Big Cheds, the impasse that has seen Bitcoin range-bound is coming to an end. Below is a chart he shared showing the price of Bitcoin poised near the top of the resistance trendline.

BTC/USD pumps 1.5% but it is a steep climb to $9,500 3
BTC/USD price chart. Source: Big Cheds on Twitter

As can be seen from the charts, a break above $9,500 could see investors watch out for a retest of $10k. However, key to Bitcoin bulls is the immediate reaction of sellers above $9,300.

The lack of movement means the bulls hardly have support in the area, and if sellers overpower bulls once more, a drop would take BTC/USD to the next support zone at $9,160.

Resistance above $9,326 is provided by a confluence of technical signals. They include the previous highs/lows on the shorter timeframes, Bollinger Band on both the hourly and 4-hour time frames, and the 38.2% and 23.6% Fibonacci retracement levels on the daily and monthly charts respectively.

Shedding gains made during the Asian trading session in latter sessions will see the $9,100 – $9,000 position come into play.

BTC/USD has jumped 1.56% as of writing and positive sentiment in the European and US trading sessions could see it close above the $9,100-$9,300 range for the first time in the past seven days.

BTC/USD pumps 1.5% but it is a steep climb to $9,500 4
blank
About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

blank

E-Crypto News Executive Interviews


blank

bitcoin
Bitcoin (BTC) $ 39,798.00
ethereum
Ethereum (ETH) $ 2,644.37
tether
Tether (USDT) $ 1.00
binance-coin
Binance Coin (BNB) $ 335.60
cardano
Cardano (ADA) $ 1.33
xrp
XRP (XRP) $ 0.753292
usd-coin
USD Coin (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.206342
polkadot
Polkadot (DOT) $ 18.34
binance-usd
Binance USD (BUSD) $ 1.00
USD
EUR
GBP
bitcoinBitcoin (BTC)
$ 39,798.00
ethereumEthereum (ETH)
$ 2,644.37
tetherTether (USDT)
$ 1.00
bitcoin-cashBitcoin Cash (BCH)
$ 558.09
litecoinLitecoin (LTC)
$ 144.34
bitcoinBitcoin (BTC)
33.536,70
ethereumEthereum (ETH)
2.228,34
tetherTether (USDT)
0,842673
bitcoin-cashBitcoin Cash (BCH)
470,29
litecoinLitecoin (LTC)
121,63
bitcoinBitcoin (BTC)
28,621.37
ethereumEthereum (ETH)
1,901.74
tetherTether (USDT)
0.719166
bitcoin-cashBitcoin Cash (BCH)
401.36
litecoinLitecoin (LTC)
103.80

Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

blank
The World’s Most Infamous Crypto Hacks and Scams
July 31, 2021
Cryptocurrency Exchanges
Cryptocurrency Exchanges and the Plague of Scams and Bans
June 29, 2021
blank
What Role Do Cryptocurrencies Play In The Era Of Ransomware Attacks?
June 9, 2021
Crypto Scams On The Rise As Market Enters Bull Cycle
Crypto Scams On The Rise As Market Enters Bull Cycle
December 22, 2020
Harpreet Singh Sahni perpetrated the Plus Gold Union Coin (PGUC) scam
Sydney Concert Promoter Harpreet Sahni Involved In $50M Crypto PGUC Scam
November 2, 2020

Blockchain/Cryptocurrency Questions and Answers

Short-Sell Cryptocurrency
How to Short-Sell Cryptocurrency: A Brief Overview
July 17, 2021
Klaytn
What Is Klaytn (KLAY) And How Does It Work?
July 16, 2021
Cryptocurrencies
Our Crypto Roundup Interview Asks- Do Cryptocurrencies Have a Future?
July 15, 2021
Solana
What Is Solana (SOL) And How Does It Work?
June 26, 2021
blank
What Is Plethori Platform And How Does It Work?
June 12, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d

bitcoin
Bitcoin (BTC) $ 39,834.00
ethereum
Ethereum (ETH) $ 2,650.05
tether
Tether (USDT) $ 1.00
binance-coin
Binance Coin (BNB) $ 335.63
cardano
Cardano (ADA) $ 1.33
xrp
XRP (XRP) $ 0.752333
usd-coin
USD Coin (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.205914
polkadot
Polkadot (DOT) $ 18.43
binance-usd
Binance USD (BUSD) $ 1.00