Cryptocurrency
Bitcoin Lacking Momentum Above $9,200, But Signs of Bullish Break Emerge
As reported on NewsBTC, “Bitcoin is slowly rising and trading above the $9,150 level against the US Dollar. BTC is struggling to gain bullish momentum above $9,200, but there are a few bullish signs emerging on charts. Bitcoin recovered above $9,200 and traded as high as $9,240. The price is currently trading nicely above the […]
As reported on NewsBTC, “Bitcoin is slowly rising and trading above the $9,150 level against the US Dollar. BTC is struggling to gain bullish momentum above $9,200, but there are a few bullish signs emerging on charts.
- Bitcoin recovered above $9,200 and traded as high as $9,240.
- The price is currently trading nicely above the $9,150 level and the 100 hourly simple moving average.
- There was a break above a significant bearish trend line with resistance near $9,160 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair must stay above the $9,120 support zone to continue higher above $9,200.
“After trading close to the $9,000 level, bitcoin started an upside correction against the US Dollar. BTC managed to clear the $9,120 resistance level and the 100 hourly simple moving average.
“It opened the doors for more gains and there was a break above a significant bearish trend line with resistance near $9,160 on the hourly chart of the BTC/USD pair. The pair even traded above the $9,200 resistance, but it failed to gain bullish momentum…”