Ethereum
$ 1,229.64 5.24%
Solana
$ 42.40 6.16%
Dogecoin
$ 0.068561 3.46%
ApeCoin
$ 4.60 2.89%
Bitcoin
$ 21,471.00 1.97%
BNB
$ 239.18 1.41%

Bitcoin price sees short term move to $10000: what’s next?

Bitcoin price sees short term move to what s next

The Bitcoin price rose towards $10000.00 on the 7th of May, experiencing a price gain of almost 10%.

DLavrov is a TradingView analyst who believes that Bitcoin is moving towards its halving, and he had also suggested that the cryptocurrency may seem a short term upside movement towards $10000.

1-Day Bitcoin price analysis (7th May)

Bitcoin Price Chart

Bitcoin price chart by TradingView

At the beginning of the day, Bitcoin traded near $9100. In the afternoon, the cryptocurrency turned bullish and it had reached the $9800 level by 18:00 GMT. Before closing the day, BTC reached a day’s high of $10048.37 US Dollars. At the time of writing, Bitcoin trades at $9999.36 US Dollars.

The Relative Strength Index (RSI) appeared bullish on the full-featured chart, at 22:00 GMT, the RSI had reached a high of 87.30. A high value of the RSI depicts that Bitcoin was overbought at that time. At the time of writing, the RSI was observed below the 50.00 level on the hourly time interval.

Bitcoin: what’s next?

The crypto analyst was of the opinion that if the price broke above the downtrend line without seeing any pullbacks, then the cryptocurrency would see a short term move towards $10000.

Bitcoin Price Featured Chart

Bitcoin Price Chart by TradingView

As of now, the idea seems to be in play as BTC may be moving towards its halving. The cryptocurrency turned bullish on the 7th of May saw a short term movement towards $10000.

Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan holds no liability towards any investments based on the information provided on this page.

Taha Farooqui

Taha Farooqui

Taha specializes in copywriting & translating texts. He aims to cover cryptocurrencies & blockchain in both English and local dialects in the Middle Eastern regions. He has helped write, translate, and localize the material related to cryptocurrencies and blockchain.

Related News

Hot Stories

Crypto News Alert – A New Meme Coin That Will Process 50,000 Transactions Per Second
Cryptocurrency Investments To Make in a Bearish Market - Shiba Inu (SHIB), Dogecoin (DOGE), and RoboApe (RBA)
ISO 20022 compliant crypto-list
Shiba Inu price analysis: SHIB expected to stay bullish for the next 24 hours
Monero Price Prediction 2022-2031: Is XMR Price Going Higher?

Follow Us

Industry News

Margin calls and bot liquidations add chaos to crypto as its market cap hits $964b
Bitpanda lays off workers amid the market decline
Coinbase to launch Nano BTC features aimed at retail traders on June 27
Namibian University will offer master's degree in blockchain technology soon
Uphold announces restriction of Venezuelan users