https://www.coindesk.com/bitcoin-price-on-neutral-ground-bulls-need-break-above-9k/
by Omkar Godbole
Feb 13, 2018 at 11:18 UTC
"Bitcoin bulls risk losing control unless prices see a convincing break above the $9,000 mark soon, according to the technical charts.
Of concern is that the cryptocurrency has failed twice to hold above $8,900, as indicated by CoinDesks's Bitcoin Price Index (BPI). Further, bitcoin also clocked a six-day high of $9,070.64 on Feb. 10, but quickly fell back below the key psychological level of $9,000.
A close above $9,000 would confirm an upside break of the falling channel, meaning bearish-to-bullish trend change. It would also add credence to the bullish 5-day MA and 10-day MA crossover and open doors for a move higher to $11,500–$11,800.
However, gains above $10,000 could be short-lived as detailed in the previous post.
On the other hand, a close below $7,851 (Nov. 2 low) would signal the corrective rally from Feb. 6 low has ended and would encourage stronger sell-off to $5,000."
Statistics from www.coinmarketcap.com:
Feb 13 2018 00:02:00 UTC
$421,718,000,000 USD: Total Market Capitalization
$17,882,200,000 USD: 24-Hour Volume
34.87%: Bitcoin Dominance