[2018-03-20]$9K Ahead? Bitcoin Looks North After Bull Breakout

[Reatim]

$9K Ahead? Bitcoin Looks North After Bull Breakout

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/

[BitHodler]

I am already happy with anything above the $8000 mark right now, mainly because of the fact that the market despite the bump up largely still is in the same position as it was a few days back.

If we want to see $9000 the market needs to move quickly before the market loses patience and gets bored again. Everything can look great today, but can change in an instant to make things look bad.

Just before the large green candle people speculated that lower levels were imminent, and a few minutes after that things have changed dramatically. It's too much of an unfunded increase for me to take it seriously.

I'll get slightly optimistic once we're out of this pattern.

[peter0425]

It really gets interesting to see that price touches $9K again. But it looks like after a 2 day run, we are in a negative based on coinmarketcap, but its a good value at $8500.

So its another mood swing that we need to observe, as we have seen similar patterns from the past, bitcoin bouncing back and then for reasons unknown, price going south again.

Let's see if we are gaining steam towards the weekend and the G20 summit thing will bring confidence to the investors to bring money, I mean big money to push to that $9K range.