{"id":59569,"date":"2020-01-20T13:00:36","date_gmt":"2020-01-20T11:00:36","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=59569"},"modified":"2020-01-20T10:56:13","modified_gmt":"2020-01-20T08:56:13","slug":"if-bitcoins-price-holds-this-level-10000-could-come-quick","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/if-bitcoins-price-holds-this-level-10000-could-come-quick\/","title":{"rendered":"If Bitcoin’s Price Holds This Level, $10,000 Could Come Quick"},"content":{"rendered":"

Bitcoin hasn’t done too hot over the past day. As reported by this outlet earlier today<\/a>, BTC suddenly fell off a cliff earlier today, with the price of the cryptocurrency slipping by 7%, plunging from $9,150 to $8,600 (as low as $8,450 on some crypto exchanges).<\/p>\n

Many immediately took this as a bearish sign. A trader noted that Bitcoin’s<\/a> daily chart has posted a confluence of bearish signs: BTC\u2019s price saw another clear rejection at the key 200-day simple moving average, the trend indicator Fisher Transform has seen a bearish crossover for the first time in a while, and the BitMEX funding rate has been positive for a while, implying bulls may be overextended.<\/p>\n

Bitcoin Needs to Hold $8,400<\/strong><\/h2>\n

According to<\/a> prominent cryptocurrency trader Galaxy, Bitcoin’s recent price action isn’t as bearish as some traders make it out to be.<\/p>\n

He remarked in the below tweet that if the leading cryptocurrency can hold the key $8,400 support level, there is “nothing to worry about,” looking to the fact that $8,400 is both a key horizontal downtrend that suppressed BTC since June and a horizontal support that has been relevant over the past few days.<\/p>\n

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As long as $8400 holds there is nothing to worry about.<\/p>\n

$10K still in play. $BTC<\/a> pic.twitter.com\/jwxCatetlP<\/a><\/p>\n

— Galaxy (@galaxyBTC) January 19, 2020<\/a><\/p><\/blockquote>\n