Bitcoin price gives up early Asian session gains and retreats below the critical $10000 mark. BTCUSD managed to make fresh four-month and yearly highs at $10199. As we discussed in our Bitcoin analysis last Friday the Bitcoin price bulls targeting a break above $10000 that happened earlier and now needs a close above that mark. Bitcoin has formed a strong base at $9550 and the momentum is bullish as long as the crypto pair is trading above that level. The trend remains bullish for bitcoin, and investors will be looking for opportunities to buy dips.

Crypto investors hope for the widespread adoption of cryptocurrencies as the main factor fueling the 2020 rally. The options on bitcoin futures by the CME improves investor's sentiment of approval of the digital assets by large institutional investors as the volumes increase.

Source :
https://www.investingcube.com/bitcoin-price-hits-fresh-yearly-highs-profit-taking-push-the-price-below-10000/

Bitcoin price rallied yesterday making fresh yearly highs after consolidating for four trading sessions above the $8,000 mark. Bitcoin breached the descending trend line with resistance near $8,100 on the daily chart and BTCUSD adding to bullish momentum. As of writing BTCUSD adds 4.75% at $8,489 with the capitalization at 154.25 billion.

Yesterday we discussed the chance of a break above the resistance at $8,200 as the momentum is positive for bitcoin. While today as the bulls are in the driver’s seat a close above the 8,500 mark might initiate another leg higher.

Yesterday in the CME we had the start of the options on bitcoin futures trading with the volumes very low as expected. There are some 54 options changed hands in the first trading session and their notional value is about $2.3 million.

Source :
https://www.investingcube.com/topic/bitcoin-btcusd/