Bitcoin Price Analysis: Can BTC/USD break into the $9,500 zone this Thursday?
- The SMA 20 has crossed over the SMA 200 to chart a bullish cross.
- The RSI indicator is trending inside the overbought zone at 74.50.
BTC/USD daily chart
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BTC/USD went up slightly from $9,158.31 to $9,172.30 in the early hours of Thursday as it trends in an upwards channel formation. The bulls will want to gain enough momentum to cross above the red Ichimoku cloud and enter the $9,500 zone. On the downside, healthy support lies at $9,187 and $8,826.75. The SMA 20 has crossed over the SMA 200 to chart a bullish cross pattern. The MACD indicates increasing bullish momentum, while the RSI indicator is trending inside the overbought zone at 74.50 which means that a short-term bearish correction may be around the corner.
Key levels
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
