Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) - Cryptocurrency Rally Continues
Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) Price Forecast, Analysis and Chart:
- Bitcoin battles with $9,000 level.
- Cryptocurrencies rally across the board.
If you are interested in trading the cryptocurrency market, we have produced a Day Trading Guide to Bitcoin and Other Cryptocurrencies to help you better understand this highly volatile asset class.
Cryptocurrency Rally Continues
The two-month cryptocurrency rally continues Friday with all major coins/tokens in positive territory. Market leader Bitcoin has just touched the $9,000 level and made its highest level since November 11, while Ethereum is back at levels last seen two months ago.
We have produced a series of cryptocurrency reports recently, highlighting notable technical set-ups and important price points.
Bitcoin’s latest run, while fueling bullish sentiment, needs to break a couple of important technical levels to turn the chart further positive. A break of the 200-day moving average, currently around $9,100, would confirm short-, medium- and long-term positive sentiment, while a close above $9,930 would break a series of lower highs and add further bullish sentiment. Initial support either side of $8,500.
As always with this sector, sharp moves either way can occur in a short timeframe, and with the market trading 24/7, care should be taken over the weekend.
Bitcoin (BTC) Daily Price Chart (May 2019 - January 17, 2020)
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