Bitcoin Price Analysis, 2 May 2018: Prices Rise to $9,250

Bitcoin prices recovered back above USD 9,000 prices after a breach below such levels prior to today’s trading session. Notably, prices have kept rising ever since, with BTC/USD rates now looming around USD 9,250.

The Day’s Signals

  1. Prices fell below USD 9,000 levels through the last trading session but have since slowly and steadily recovered.
  2. Trading volumes remain high with apparent interest from traders to provide support for the rising price.
  3. Bitcoin prices are reaching above USD 9,200 price levels with more positivity in the recent hours.

Bitcoin Price Analysis, 2 May 2018: Prices Rise to $9,250

GDAX BTC/USD charts are showcasing how the market is moving in the following of yesterday’s breach. In so far, traders have managed to break away from the selling pressure that had Bitcoin prices trading below USD 9,000. Bitcoin prices now appear to be on a rising trail with the market’s sentiment continuing to build up on the positivity. Selling pressure received responses that led to recoveries throughout the course of the day.

Bitcoin Price Analysis, 2 May 2018: Prices Rise to $9,250

OKEX BTC/USD weekly futures charts still showcase the positive divide futures traders are maintaining between their markets and live prices. Bitcoin futures prices are continuing to trade above live market rates. While this trend began earlier in the week, yesterday’s breach doesn’t seem to have affected the sentiment among futures markets. It’s also worth noting that this positivity only kept growing as confidence in the rising price gained.

All in all, traders are now showcasing more confidence with prices staying above USD 9,000 after a head start in the beginning of today’s trading session. This market sentiment might be something that more positive developments could be launched from. While the recent top price point at USD 9,500 was reached earlier this week, BTC/USD markets have had a hard time reaching close to such levels again since. However, the recent positive developments could be signaling a breakout of the post-correction market sentiment.

 

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