BTC Price: $9,186
Last 7 Days: 14.99% 1month: 25.74% 12months: 39.21%
Over the past few days Bitcoin has pushed higher, gaining traction above $8,800 and exceeding many analysts bullish targets of resistance including the major $9,000 mark. We even saw a break of the level of $9,325 and settling well above the 100 hourly simple moving average. With bulls consistently pushing the price of BTC we nearly saw a level of $9,400 stopping just short at a new yearly high of $9,391, before the bears engaged and attacked bringing a sharp downside correction spiking below $9,110 and dabbling through $9,000. However with a quick reversal bulls still decided that the price will remain within the $9,000 range. With many supports sitting around $9,100 / $9,080 the main support is near $9,040 and with a break through this we would be looking at a downside towards $9,000. However, a bullish trend line is forming with a support by $8,810 and if we look to the upside an initial resistance is placed around $9,275 and strong resistance by $9,300. A key level to watch for will be $9,400 and $9,550. With bulls happily in control a sensible target for the coming weeks would be $10,000.
10th June: $18,689,275,118 (BTC Price of $7,700)
17th June: $19,852,057,631 (BTC Price of $9,180)
6% increase in trading volume in the last 7 days