Is Bitcoin Heading to $9000

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5 months ago
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December has been a pretty boring month for Bitcoin. The cryptocurrency traded between $7100 to $7500 for the majority of the month with a minor 48-hour dip to $6500. Bitcoin was relatively stable throughout December but was branded "boring" by a few.

January has been shaping up to be a more positive month for the asset. Bitcoin is currently trading at $8098 and some suspect it will go higher. The cryptocurrency gained some upper momentum and crossed above $8000 on January 7th. While it retracted below that mark for roughly 48 hours, it appears that Bitcoin has support levels at around $8000. This price increase is roughly 12% when compared to Bitcoin's December price.

Bitcoin continues to hold its higher prices which can be interpreted as BULLISH. All it needs is a catalyst to squeeze to the next major resistance in the 9K area. We continue to hold 1/3 of our original SWING TRADE position which triggered back in December, for its third target in the low 9Ks. The purpose of this evaluation is to share our insight and perspective as it relates to the actionable information derived from the ORDER FLOW of Bitcoin. Evaluating order flow offers practical clues about short term market intent which can be used to gauge general probabilities around specific market scenarios.
  • Cryptocurrency
  • Bitcoin
  • Technical analysis
  • BTC