Bitcoin Survives Sell-offs to Start Weekend Strong at $8,500

written by

Bitcoin Survives Selloffs to Start Weekend Strong on $8,500

Support free journalists: > send a tip

After a surprising breach of USD 9,000, followed by an almost immediate plunge down by over 10% yesterday, Bitcoin has survived the pressure from sellers to start Saturday strong, climbing back up slowly towards USD 8,500, which is beginning to look like a strong support level.

It was a temporary victory for the bears, however, since touching a 24-hour low of USD 8,212, Bitcoin is now trading at BTC 8,577 ( 11:30 am UTC, CoinDesk) and looking like it’s about to embark on another strong recovery, as has been the tune of the past few weekends.

Bulls will take a lot of comfort from the quick recovery but they know that they will first have to test resistance at USD 8,600 before they can make another push towards the current 2019 high just above USD 9,000. However, a strong and sustained break above this and they can expect to see more gains in the near term. At least, most speculators are still feeling the good vibes.

The near and medium-term charts are showing positive zones and the bulls will likely wait for another Sunday push from Asian markets before taking charge once more. India Bitcoin trader Aditya Singh certainly believes that the bulls are taking the bears for a ride.


Follow on Twitter: @BitcoinNewsCom

Telegram Alerts from

Want to advertise or get published on – View our Media Kit PDF here.

Image Courtesy: Pixabay

Help spread this article :) is NOT INVESTMENT ADVICE

Opinions expressed are entirely their own and do not necessarily reflect those of

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of 


Read More Bitcoin News


Join our Newsletter


Latest on Bitcoin News

Video of the Week

Join our Newsletter