Bitcoin Forum

Bitcoin (BTC) looks set to extend its two-day winning streak and could soon test the $9,000 mark, technical analysis suggests.

Over the last two days, bitcoin has retraced close to 30 percent of the recent drop from $11,660 (March 5 high) to $7,335 (March 18 high). Further, the cryptocurrency also witnessed an upside break of the key descending trendline yesterday. So, it appears the world's largest cryptocurrency by market capitalization has bottomed out for the short-term.

However, despite the bull flag breakout, the cryptocurrency has been restricted to a narrow range of $8,200-$8,700 for the better part of the last 20 hours.

https://www.coindesk.com/9k-ahead-bitcoin-looks-north-after-bull-breakout/

Hope to have such growth though its not too high. Your expectation?

It's look like the price pullback was as a result of uncertainty surrounding G20 meeting stands on regulation of bitcoin and other Cryptos fortunately the decisions on the regulations was suspended till July before taking a major stand. A staunch critic of Cryptos Bank of England head Mark Carney states that "crypto-assets do not pose risks to global financial stability at this time," I belief all these news contributed to the bullish sentiment of price having broken the trendline resistance and gradually testing $9K.

I also agree that the absence of harsh comments on the regulation of the crypto-currency at the G-20 summit pushed the rate up, we could also see quite a lot of positive news that went unnoticed, though they helped stabilize the situation....

Thanks G20 for pushing BTC up, hope there will be more positive news soon and bitcoin will reach $10,000 finally!