Crypto Trader Luke Martin Expects Bitcoin (BTC) Price to Climb to $9,000 in Case of Bullish Daily Close

Libra Coin News
Mon, 10/07/2019 - 19:17
Alex Dovbnya
The Bitcoin price could bounce back to the $9,000 level if it prints a daily close above $8,300
Cover image via U.Today

Bitcoin, the top coin by market capitalization, has endured a minor recovery over the last 24 hours with its price spiking by 4.5 percent.

According to crypto trader Luke Martin, BTC closing above $8,300 on Monday could strengthen its bullish momentum throughout the week. If the bulls persist, the crypto king could see the $9,000 in the short-term. 

"The Crypto Dog" seems to be on the same page. The popular trader says that Bitcoin needs a break above the $8,500 level for the bullish scenario to come into play. 

Related
Bitcoin Weekly Trading Volume in Hong Kong Hits ATH over Political Instability

Meanwhile, Ripple's XRP and Ethereum are staging a major comeback on their respective price charts. Veteran chartist Peter Brandt noticed that both of them were bottoming against Bitcoin

This is some bad news for BTC maximalists, considering that the crypto king's dominance has been on a decline as of lately. 

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.