Bitcoin Price Analysis: BTC/USD Bulls Focused On Destroying $9,000 Hurdle
- Bitcoin recovery from recent support at $8,600 stalls above $8,900 but eyes still glued at $9,000.
- BTC/USD must step above $9,000 soon to avert possible refreshing of $8,600 support due to bears’ gaining traction.
Bitcoin price has since the weekend session been unable to clear the resistance at $9,000. This follows the losses that tested the support at $8,600. While recovery has already stepped above $8,900, the low trading volume still hinders growth towards $9,000.
At the time of writing, BTC/USD is trading at $8,908. The minor intraday gains during the Asian session follow a bounce from the key trendline support. According to the moving averages, the trend is mainly in the hands of the buyers. The 50-day SMA seems to be expanding the gap above the longer-term 200-day SMA. Both the SMAs will also function as support levels in the event Bitcoin fails to sustain gains towards $9,000 and instead, free-falls to refresh support at $8,600.
Bitcoin is ready to take down the critical hurdle at $9,000 in the coming European session. The Relative Strength Index (RSI) is holding the ground at 50 after the recent dive from overbought levels found support at 45.
BTC/USD daily chart
A glance at the MACD hints that Bitcoin is not in the clear yet. Although the indicator is in the positive region, its downward trend points towards seller domination. Moreover, there is a vivid bearish divergence that could encourage more sellers to join the market.
Apart from the support areas at the trendline and at $8,600, Bitcoin could seek refuge at the 61.8% Fibo taken between the last drop from $10,493 to a swing low of $4,161.75. Other levels of interest to the buyers would be $7,200 and $6,000 respectively.
Bitcoin Intraday Key Levels
Spot rate: $8,919
Percentage change: 0.23
Relative change: 20
Trend: Bullish
Volatility: Low
High: $8,928
Low: $8,826
- 99.3% of Bitcoin Supply in Profit, Analyst Warns of Short-Term Correction
- Pro-Crypto Mike Selig Emerges As CFTC Chair Frontrunner, Gains Ripple CLO’s Endorsement
- ‘Every Crypto ETF You Can Imagine’: Expert Predicts Flurry of Filings After REX-Osprey’s 21 Applications
- Robinhood Lists Strategy’s Bitcoin-Backed Stocks, Boosting Saylor’s BTC Credit Model
- Bitcoin ETFs See 2025 Record Weekly Inflows of $3.2B as BTC Eyes New ATH
- FLOKI Price Prediction as ETP Listing Drives Adoption—Is a 160% Rally Ahead?
- BNB Coin Price Hits ATH as Derivatives Activity Soars—Is $1,520 the Next Stop?
- Aster Price Eyes $3 After Channel Breakout as Open Interest Surges to $1.37B
- Will XRP Price Hit $5 if the SEC Approves ETFs This Month?
- Bitcoin Price Hits $120K Ahead of Q4 — Can Citigroup’s Forecast Hold Up?
- Pi Network Price at Risk of Another Crash as Mysterious Whale Stops Buying
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
