• Bitcoin got rejected after reclaiming monthly high.
• The $8000 break now provides support for Bitcoin.
Few minutes after our previous crypto trading signal, Bitcoin’s moved higher after breaking the $8800 to $9150 resistance. This resistance slight got rejected and dropped Bitcoin to around $9000 at the moment. It may continue to fall if the buyers become inactive. However, the bulls are still taking charge of the market
Key resistance levels: $9150, $9400
Key support levels: $8800, $8535
Bitcoin (BTC) Price Analysis: 4H Chart – Bullish
Earlier today, Bitcoin finally reclaimed the $9150 resistance after bouncing back on a three days rally. Unfortunately for buyers, this resistance seems to be proven difficult to overcome. Due to a slight price rejection, BTC has dropped back to $9000. It might even drop into the $8800 support if a proper retracement plays out. Below this support lies the $8500 that got broke over the weekend.
Looking at the 4-hours chart, Bitcoin is under a bullish control. Should the price keep rising by the day and Bitcoin successfully breaks the yellow resistance area of $9150, the next resistance to watch out for is $9400. At the moment, the buyers are still showing a strong commitment in the market.
Bitcoin (BTC) Price Analysis: Hourly Chart – Bullish
Bitcoin is looking bullish and now trading above the rising channel that was mentioned in our previous crypto trading signals. As of now, the market slightly bounced off this channel to continue to regain $9150 resistance – the yellow spot on the hourly chart. A cross above this resistance could trigger more increase to $9300.
If Bitcoin continues to drop, however, the blue area of $8000 would be the closest level of support to keep an eye on before we can consider the $8500 support. But looking at this price setups, Bitcoin could elapse the monthly high and print a fresh price. The $9150 has recently suppressed bullish pressure but we can expect a massive increase once Bitcoin overcomes this area.
BITCOIN BUY ORDER
Pending Order
Buy: $8832
TP: $9400
SL: $8600
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