Bitcoin (BTC) Price Weekly Prediction: Indicators Suggest Rally To $9,000
There was a strong buying interest for bitcoin near the $6,800 support area against the US Dollar. The price started a fresh increase and broke the $7,000 and $7,500 resistance levels. There was a break above a major contracting triangle with resistance near $7,300 on the 4-hour chart of the BTC/USD pair (data feed from Kraken). The pair is eyeing a strong rise and it could trade above $8,500 and $8,800 in the near term.
Bitcoin price is up more than 10% after a strong downside correction against the US Dollar. BTC is now eying further upsides and it could even test the $9,000 resistance area.