Pullback Over? Bitcoin Retakes $9K

in #bitcoin • 6 years ago

Having recovered from a five-day low hit yesterday, bitcoin (BTC) has potential for a move higher towards major resistance at $9,880, the technical charts indicate.

The cryptocurrency moved back above $9,000 in the Asian hours after the pullback from the recent high of $9,767 ran out of steam around the ascending (bullish) 4-hour 50-candle moving average (MA).

As of writing, BTC is trading at $9,251 on Bitfinex, representing marginal losses over the previous day's close (as per UTC) of $9,270.

A bearish follow-through to Wednesday's bearish outside-day reversal would have been bad news for the bulls, but BTC instead appreciated by 4.5 percent on Thursday, keeping them in the game. Had BTC closed yesterday below $8,765 (Wednesday's low), the bears would have had the upper hand for the short-term.@ausharya

6 years ago in #bitcoin by
$0.00
    3 votes
    Reply 1

    Coin Marketplace

    STEEM 0.30
    TRX 0.12
    JST 0.033
    BTC 64400.33
    ETH 3140.71
    USDT 1.00
    SBD 3.93