Breaking: Bitcoin shooting higher gaining double-digits

Bitcoin is trading up around 12% on Wednesday, as the bulls maintain pressure.
BTC/USD is on a promising run back towards the $10,000 price mark.

Ken Chigbo Independent Analyst

The Bitcoin bulls are further extending to the north in the latter stages of the day, now holding chunky double-digits gains of some 12% at the time of writing. Momentum really picked up pace as the price shot through the $8400-500 price range.

BTC/USD is now trading up at the highest levels seen in some three weeks. The price has been running higher for some nine sessions now, gaining pace to the north, as key barriers are broken; $7000, $7500, $8000 and now $8500.

Given the strength of upside pressure being observed, it appears much buyer faith is being restored, as the price heads back towards the big $10,000 mark.

BTC/USD 60-minute chart

Author

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.

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