Bitcoin Prices Holds Above $8,000 As Bulls Are in Control
Bitcoin price trades higher for the sixth consecutive session as the rally that started after the killing of Iranian General Soleimani continues. BTCUSD is 2.01% higher at 8,320 breaching the resistance levels that I mentioned yesterday.
Bitcoin has formed a strong base at the December lows (6,428) and continued higher breaching yesterday the 100-day moving average.
Today bitcoin market cap has jumped to 150.96 billion. Trading volume in the last 24 hours is above average reaching 30.64 billion. The market capitalization of the 100 major cryptocurrencies is 218.52 billion.
Bitcoin – BTCUSD breached yesterday the 100-day moving average and boosted further the recent positive momentum. Now traders have shifted their attention to higher levels.
Immediate barrier to the upside for the pair will be met at $8,463 the daily top. The next supply zone stands at $9,060 the high from November 11th. More selling pressure will emerge at $9,205 the 200-day moving average.
On the flip side, initial support for bitcoin stands at $8,151 the daily low. If bitcoin pierce that level the next target for bears stands at $7,948 the 100-day moving average. Bears will take control of BTCUSD if breach the 50-day moving average at $7.335.