Bitcoin price rises again and touches USD 9,000
The digital asset experienced increases that reached USD 8,863, what could be interpreted as a sign of profit for traders
During the last hours, the price of bitcoin (BTC) quickly fell 3% from USD 8,863 to USD 8,557 and for the third time, in 24 hours, the bulls were forced to defend the support level of USD 8,600 that has currently been Bought in every fall.
The decline was generated after the digital asset struggled to exceed USD 9,000, reaching USD 8,863 twice, something that could be interpreted as a sign of profit for traders.
These same patterns were reflected in June 2018, when the digital currency reached USD 13,800 without forgetting its historical maximum obtained in December 2017.
Some traders have noticed that a higher M can be seen within 4 and 6 hours. However, it is very premature to call an investment based on these results. The fundamental task for traders now is to become permanent observers of the variants that may suffer the price of bitcoin.
If the current upward trend line and the downward trend line exceed USD 8,300, traders will look for a rebound in DMA 50 (USD 7,775). In the event that the decline is greater, traders will have made a profit worth USD 8,900, although, they will most likely wait to see if the price of bitcoin can bounce on the trendline of the downstream channel or consider the possibility of buying hard at the price that achieves a 4-hour closing above USD 9,100.
K.Villarroel
Source: cointelegraph
