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Bitcoin {BTC} heads north of $9500 as altcoins lead the bull-run with great vigour

Bitcoin

Bitcoin’s dominance rate rose to 68.2% in hours as the top-ranked asset was propelled by buyers following yesterday’s bearish drop towards $9000. The price climbed at a rate of 5.06% which, in turn, helped $BTC soar to reach the $9614 mark where it presently holds. The trading volume recorded stands at roughly $35.606 billion, while the supply has 18,016,612 BTC coins in play as of this very moment. The total market cap of Bitcoin is $173.211 billion which depicts a remarkable recovery.

In accordance with the candlestick chart linked to the BTC/USD pair on tradingview [based on data obtained from the Bitstamp Exchange], the #1 digital asset is being greatly impacted by buyers persisting in the market. The daily RSI [for 14 periods] is at 66.75 which indicates that Bitcoin may land inside the overbought zone by the following week. In the aftermath of 26th October, the peaks tied to the Awesome Oscillator were established over the zero line and possessed the green shade, which points to a rise in terms of bullish momentum.

Similarly, from 25th October onwards, the MACD line has increasing drifted further away from the signal line, leading to the growth of the emerald histogram formed atop the zero line. It’s only a matter of time till $BTC will encounter resistance at the $10480 mark. Support can be found adjacent to $7349.7.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.