Friday, September 25, 2020
No menu items!
  • News
  • Bitcoin
  • Contact Us
More

    Bitcoin Price: $9,000 is the Next Key Level if BTC Breaks $8,500 –Jacob Canfield

    Must Read

    XRP Ledger Foundation Officially Launched

    According to a latest information, XRP Ledger Foundation has been launched officially. This update was shared via the official Twitter...

    Chainlink (LINK) Now Available To Users in Over 2.2M Hotels and Homes

    In a tweet shared on 23rd September 2020, Travala.com, a crypto-friendly traveling booking service, informed the cryptocurrency community about...

    Ethereum 2.0: User Outlines Why He Would Not Stake ETH at Launch, Danny Ryan Weighs In

    There have been concerns over the risks of staking the digital token ETH on Ethereum 2.0 at launch. In...
    Tobi Loba
    Tobi Loba
    Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to fulfill her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.




    Bitcoin has been able to successfully maintain $8,000 support for a couple of days. BTC now looks ready to forge ahead. Obviously, its next price resistance to huddle before higher challenges start to surface one at a time is $8,500 resistance level.

    In this regard, a cryptocurrency trader and analyst, Jacob Canfield has recently aired his opinion regarding Bitcoin’s possible price trend, averring that $9,000 is the next key level if BTC could break $8,500 resistance level.

    Jacob Canfield Says $9,000 is the next key Level for Bitcoin

    Bitcoin is presently gathering momentum for the next move, considering the indications it showcased over the past hours.

    The cryptocurrency analyst and trader, Jacob Canfield opined that Bitcoin could rally to break above $9,000 resistance level if it’s able to break $8,500.

    He said, “If $8,500 breaks, the next key level would be $9,000. This is a psychological round number (Vegeta memes) It is also the 61.8% fibonacci retracement as well as the 200MA. Good luck to the bulas”

    Josh Rager Sees Bitcoin Price Consolidation

    Prior to Jacob Canfield’s short term prediction for Bitcoin, the popular cryptocurrency analyst, Josh Rager also aired his opinion as BTC seemingly prepares to move for higher and challenging resistance levels.

    In his analysis, he said $8,170 and above is a significant area that will determine the possibility of Bitcoin facing higher price challenges.

    He stressed the importance of $8,170 support to the further price uptrend of Bitcoin, stating that the next strong resistance to surpass is $8,750. He added that a price downtrend below $7,700 is bearish for BTC.

    He said, “…$8170s is a significant area for Bitcoin to break and close above on higher time frame charts. It’s been an important support/resistance and high volume area (POC) for trading. Next resistance to break is $8750 And things get bearish below $7700s.”

    Bitcoin Price in the Market

    Bitcoin price recently made a brief move closer to breaking $8,500 resistance level. A level termed as important to its further appreciation, going by the assertions of the analysts.

    Presently, BTC seems to have rested above $8,300 price level, however, the possibility of a further price upsurge is not ascertained at this point.

    Any price trend, whether positive or negative is possible any moment from now. At the time of filing this report, BTC is trading at $8,387.85, with about a 3% price upsurge in the last 24 hours.




    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Latest News

    XRP Ledger Foundation Officially Launched

    According to a latest information, XRP Ledger Foundation has been launched officially. This update was shared via the official Twitter...

    Chainlink (LINK) Now Available To Users in Over 2.2M Hotels and Homes

    In a tweet shared on 23rd September 2020, Travala.com, a crypto-friendly traveling booking service, informed the cryptocurrency community about the integration of Chainlink (LINK)...

    Ethereum 2.0: User Outlines Why He Would Not Stake ETH at Launch, Danny Ryan Weighs In

    There have been concerns over the risks of staking the digital token ETH on Ethereum 2.0 at launch. In this regard, a supposed Ethereum...

    New Version of VeChain Thor Released with a Major Improvement

    As a report has it, v1.3.6, the updated version of the popular software in the VeChain ecosystem, VeChain Thor, has been released with a...

    Venture Capitalist Tim Draper Reveals He Holds Bitcoin (BTC), Ripple XRP, Tezos (XTZ)

    Venture capitalist and Bitcoin optimist, Tim Draper, who is the founder of Draper University, has recently revealed his cryptocurrency portfolio, which includes Bitcoin (BTC),...

    More Articles Like This