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Bitcoin Price Analysis – BTC Surges Above $8,500, Is $9,000 Next?

Bitcoin Price Medium-term Analysis

On the upside, if the buyers can strengthen and energize the market, they can further push the price to a $9,000 resistance level. Meanwhile, the Moving Average Convergence Divergence (MACD) line and the signal line are above the zero line which indicates a buy signal.

On the 1-hour chart, BTCUSD price is in a bullish trend. Today’s surge marks the first time that bulls have shown signs of any strength ever since the pair began its downward trend from the lower-$8,000 level which is where it previously found significant support that dissolved earlier this week.

Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal.

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