{"id":253220,"date":"2020-03-05T13:31:37","date_gmt":"2020-03-05T18:31:37","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=253220"},"modified":"2020-03-05T13:31:37","modified_gmt":"2020-03-05T18:31:37","slug":"bitcoin-price-prediction-btc-usd-finally-drives-the-market-up-conquers-9000-level","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-price-prediction-btc-usd-finally-drives-the-market-up-conquers-9000-level","title":{"rendered":"Bitcoin Price Prediction: BTC\/USD Finally Drives the Market Up; Conquers $9,000 Level"},"content":{"rendered":"

Bitcoin (BTC) Price Prediction \u2013 March 5<\/strong><\/p>\n

BTC\/USD is up by more than 3% as the price struck a sudden and bullish price spike. Meanwhile, the technical indicator RSI (14) is extremely bullish.<\/p>\n

BTC\/USD Long-term Trend: Bullish (Daily Chart)<\/h4>\n

Key levels:<\/p>\n

Resistance Levels: $9,800, $10,000, $10,200<\/p>\n

Support Levels: $8,000, $7,800, $7,600<\/p>\n

\"\"<\/a>
BTCUSD – Daily Chart<\/figcaption><\/figure>\n

The daily chart has revealed that BTC\/USD<\/a> is pushing the price above the critical resistance level. The coin is moving above $9,000 to trade at $9,082 at the time of writing. The number-one crypto is moving with strong bullish momentum after a sustainable break above an important technical level. More so, BTC\/USD has gained over 3.6% since the beginning of the day as it is using $8,700 support as a jumping-off ground to develop the upside momentum, which is now gaining traction.<\/p>\n

However, the return above $9,000 could set the framework for gains towards $10,000. Meanwhile, the technical analysis shows that the bulls are ready for action especially when the up-trending RSI (14) is considered. Any further bullish movement above the 9-day and 21-day moving averages could pave the way for the gains above $9,400. Other resistance levels to watch include $9,800, $10,000 and 10,200.<\/p>\n

Looking at the downside, if the price falls back below $9,000 level and move to cross below the moving averages, the bears may wrestle out the control over the situation very quickly. This may likely serve as a major blow for the market sentiments as traders could interpret it as a sign of underlying weakness. The next important support comes at $8,500, which is followed by $8,000, $7,800 and $7,600 support levels.<\/p>\n

BTC\/USD Medium – Term Trend: Bullish (4H Chart)<\/strong><\/h4>\n

Looking at the 4-hour chart, the price of Bitcoin (BTC) is currently trading around $9,911 and above the 9-day and 21-day moving averages after a reversal from $8,738 that occurred in yesterday\u2019s trading. However, the 4-hour chart shows that the bullish supply is becoming heavy in the market while the bears are also trying to bring the price down.<\/p>\n

\"\"<\/a>
BTCUSD – 4 Hour Chart<\/figcaption><\/figure>\n

Furthermore, if the buyers could strengthen and energize the market more, they can further push the price to a $9,200 resistance level. Therefore, breaking the mentioned resistance may likely allow the bulls to test the $9,400 and above. In other words, the RSI (14) is currently moving around 65-level, but when it turns down; the bears could step back into the market and bring the price to the support level of $8,800 and below.<\/p>\n

Please note:<\/strong> Insidebitcoins.com<\/a> is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) Price Prediction \u2013 March 5 BTC\/USD is up by more than 3% as the price struck a sudden and bullish price spike. Meanwhile, […]<\/a><\/div>","protected":false},"author":1742,"featured_media":253221,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[734,5319,7991,7992],"class_list":["post-253220","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-more-crypto-news","tag-bitcoin","tag-btc","tag-btcusd","tag-technical-analysis"],"acf":[],"yoast_head":"\nBitcoin Price Prediction: BTC\/USD Finally Drives the Market Up; Conquers $9,000 Level<\/title>\n<meta name=\"description\" content=\"BTC\/USD is up by more than 3% as the price struck a sudden and bullish price spike.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/253220\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Price Prediction: BTC\/USD Finally Drives the Market Up; 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