{"id":267935,"date":"2020-07-12T03:27:06","date_gmt":"2020-07-12T07:27:06","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=267935"},"modified":"2021-09-16T04:55:42","modified_gmt":"2021-09-16T08:55:42","slug":"bitcoin-price-prediction-btc-usd-navigates-around-9200-as-volume-lowest-in-months-massive-move-likely","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-price-prediction-btc-usd-navigates-around-9200-as-volume-lowest-in-months-massive-move-likely","title":{"rendered":"Bitcoin Price Prediction: BTC\/USD Navigates Around $9,200 as Volume Lowest in Months, Massive Move Likely"},"content":{"rendered":"\r\n

Bitcoin (BTC) Price Prediction \u2013 July 12, 2020<\/strong>
The upward move of BTC\/USD<\/a> has been ongoing since last month because the $9,000 and $9,200 support has been holding consistently. It has positioned Bitcoin bulls to continue to retest of the $10,000 overhead resistance. However, the king coin has shown weakness as it continues to hover above $9,200.<\/p>\r\n

Key Levels:<\/strong>
Resistance Levels: $10,000, $11, 000, $12,000
Support Levels: $7,000, $6,000, $5,000<\/p>\r\n

\"\"<\/a>
BTC\/USD – Daily Chart<\/figcaption><\/figure>\r\n

Despite Bitcoin\u2019s weakness, the key support levels of $9,000 and $9,200 continue to hold. This has contributed to the altcoins surge to higher levels. The massive surge of the altcoins is as a result of Bitcoin’s low volatility in the last two months. At the time of writing, Bitcoin is still hovering above $9,200 for the past 24 hours. The rejection at the $9,500 resistance has caused the king coin to initiate a sharp selloff. Nonetheless, the bulls will attempt to resume an upward move. The bottom line is that if the bulls sustain above $9,500, the upside range trading will resume. As soon as the $9,500 resistance is cleared the next target will be the $9,800. The $10,000 overhead resistance will be retested once the $9,800 is breached.

Note that a repeated retest of the $10,000 and $10,500 area will lead to a possible breakout. The several retests will weaken the overhead resistance. Analysts believe that the benchmark crypto will reach a high of $13,000, once the $10,500 resistance is cleared. Conversely, if the bulls fail to achieve their target, the coin will encounter a bearish reaction. The coin will drop sharply from the overhead resistance. Nevertheless, once the $9,000 to $9,100 support fails to hold, a drop to $8,500 or $8,600 is likely. Meanwhile, BTC had risen to level 50 of the Relative Strength Index period 14. The RSI is at the midpoint which indicates a balance between supply and demand.

BTC\/USD Medium-term Trend: Bullish (4-Hour Chart)<\/strong>
On the 4 hour chart, Bitcoin has been in a range-bound movement between $9,000 and $9,400. The $9,000 and $9,100 has been holding as support while the $9,400 has been acting as resistance.<\/p>\r\n

\"\"<\/a>
BTC\/USD – 4 Hour Chart<\/figcaption><\/figure>\r\n

The price has been stuck between these levels since July 1. The bulls have attempted to break the resistance at $9,400. Buyers pushed BTC to $9,500 high but have been repelled to $9,200 support. On the downside, the bears pushed price to $8,918 low but corrected upward. Nonetheless, at the time of writing the market remains stable above $9,200. Bitcoin is above 40% range of the daily stochastic. It indicates that the market is in a bullish momentum. The bulls are making attempts to break into the $9,300 region.<\/p>\r\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) Price Prediction \u2013 July 12, 2020The upward move of BTC\/USD has been ongoing since last month because the $9,000 and $9,200 support has […]<\/a><\/div>","protected":false},"author":1742,"featured_media":267962,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[734,5319,7812,8009],"class_list":["post-267935","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-more-crypto-news","tag-bitcoin","tag-btc","tag-btc-usd","tag-price-prediction"],"acf":[],"yoast_head":"\nBitcoin Price Prediction: BTC\/USD Navigates Around $9,200 as Volume Lowest in Months, Massive Move Likely - InsideBitcoins.com<\/title>\n<meta name=\"description\" content=\"The upward move of BTC\/USD has been ongoing since last month because the $9,000 and $9,200 support has been holding consistently.\" \/>\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\/267935\" \/>\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 Navigates Around $9,200 as Volume Lowest in Months, Massive Move Likely - 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