BITCOIN BULL RUN: 3 Reasons Why BTC Price Will Continue To Surge | .5K Bounce Next?

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Bitcoin (BTC) awakened from its post-holiday slump, breaking easily above $8,000.

A combination of geopolitical tensions and renewed appetite for trading led the BTC price as high as $8,459.

The most recent Bitcoin price move also shifted the analysis of technical indicators, signaling bitcoin may be ready to follow a bullish scenario.

Three technical indicators suggested a new upward drive may be possible.

Bitcoin managed to bounce off the years-long trend of higher lows.

The second technical factor was a small head-and-shoulders pattern.

In other Bitcoin news today, the BTC price can bounce to $9.5K after filling futures gap according to analysts.

Michaël van de Poppe shared the retracement looked primed to bounce at press time levels.

These, he noted, represented a gap in CME Bitcoin futures prices — around $7,960 — something Bitcoin has historically sought to “fill” on multiple occasions. 

“This flip would be the best + closing the CME gap,” he summarized in his latest Twitter post on Thursday.

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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes / Resources:

Has a new bull market began in #Bitcoin $BTC? 1. Market held support at lower boundary of multi-yr channel2. Small H&S bottom on daily chart3. Pending penetration of 6+ mo channelIf enough cryptocultists have been shaken out since Dec ’17, then “yes”

If not, then “no”

— Peter Brandt (@PeterLBrandt) January 8, 2020

$BTC #BITCOINThis flip would be the best + closing the CME gap. Breakout upwards and I’d be aiming for $9,500 (or $11,000 as $9,500 is the same as $6,000 -> everybody wants to short there -> extra fuel).

Losing green and $6,900 – 6,400 are on the table.

— Crypto Michaël (@CryptoMichNL) January 9, 2020

$BTC Price had an initial rejection off key area $8400s that previously as resistance/supportWatching for a pullback $7800s-$7900s before a bounce and push to the upside for retest

Not out of the bear woods yet, take it level by level, day by day

— Josh Rager 📈 (@Josh_Rager) January 8, 2020

Bitcoin Bull Run: 3 Reasons Why BTC Will Continue to Surge