8th Feb - Crypto Technical & Market Watch
Bitcoin Has been trading above $9,600, which shows bulls are in command.We expect psychological resistance at $10,000 which will be crossed and the next target to be watched $10,360.89. Bulls can rally the price above $10,360.89, and can target $11,500. Traders can trail the stops on the buy positions to $8,900. Bearish sign of weakness will be a break below the recent low of $9,097.15.
If the price can sustain above $223.999, a move to $235.70 is possible. Traders can book partial profits and stops on the remaining buy positions to $190. Traders have opportunity to buy at the dips to $197.75. Below these level of $ 197.75 pair can dip to $183.72.
Bulls can push the price above and rally to $0.31503 and above it to $0.34229 is possible. Traders can trail the stops on the buy positions to just below at $0.245.
Bitcoin Cash achieved our first target of $440 as per our analysis.If the price sustains above these price, it can move to $ 500. Bearish below $360 will turn the trend in favor of the bears.
Disclosure: The author holds no cryptocurrency at the time of writing.
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