TRENDING:
Australian Unemployment
Trade War
XAU/USD
Silver
EUR/USD
GBP/USD
USD/CAD
AUD/USD
Sponsored by
Login
|

Bitcoin Price Analysis: BTC/USD must hold above $8500 for the big $10,000 return

  • Bitcoin price is trading in the green, up some 5.30% in the second half of the session. 
  • BTC/USD near-term price action is narrowing ahead of further moves higher.
  • A bullish pennant is being observed following the strong break of the $8000 mark. 
Bitcoin Price Analysis: BTC/USD must hold above $8500 for the big $10,000 return
Ken ChigboKen ChigboIndependent Analyst

BTC/USD daily chart

The bulls are attempting to break down supply within the $8500, ahead of further moves to the upside.

BTC/USD 60-minute chart

Price action via the 60-minute chart view is moving within a bullish pennant structure, subject to a potential breakout north. 


 

Spot rate:                  8550.15

Relative change:       5.50%

High:                         8587.33

Low:                          8105.16

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

More from Ken Chigbo
Share:

Editor's Picks

Injective token surges over 13% following the approval of the mainnet upgrade proposal

Injective token surges over 13% following the approval of the mainnet upgrade proposal

Injective price rallies over 13% on Thursday after the network confirmed the approval of its IIP-619 proposal. The green light for the mainnet upgrade has boosted traders’ sentiment, as the upgrade aims to scale Injective’s real-time Ethereum Virtual Machine architecture and enhance its capabilities to support next-generation payments.

Solana Price Forecast: SOL slips below $82 as hawkish Fed tone sparks risk-off sentiment

Solana Price Forecast: SOL slips below $82 as hawkish Fed tone sparks risk-off sentiment

Solana is trading below $82 at the time of writing on Thursday after failing to break out of the upper consolidation range over the weekend. The Minutes from the Federal Open Market Committee on Wednesday kept interest rates unchanged, but a less dovish tone that followed dampened risk appetite and pressured risky assets.

Warren warns crypto bailout would enrich Trump family biz: Report

Warren warns crypto bailout would enrich Trump family biz: Report

Senate Banking Committee ranking member Elizabeth Warren has reportedly sent a letter to Treasury Secretary Scott Bessent and Federal Reserve chair Jerome Powell, urging them not to bail out “cryptocurrency billionaires” with taxpayer dollars. 

Top Crypto Gainers: World Liberty Financial, Sky, and Cosmos confront major resistance

Top Crypto Gainers: World Liberty Financial, Sky, and Cosmos confront major resistance

World Liberty Financial, Sky, and Cosmos rank among the top gainers over the last 24 hours but face critical overhead resistance levels. WLFI gained momentum at the World Liberty Forum, an invite-only conference held at Mar-a-Lago by US President Donald Trump’s family, while SKY and ATOM reversed off a crucial support level. 

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: BTC bears aren’t done yet

Bitcoin: BTC bears aren’t done yet

Bitcoin (BTC) price slips below $67,000 at the time of writing on Friday, remaining under pressure and extending losses of nearly 5% so far this week.