The king of cryptocurrency Bitcoin BTC has been enjoying the bullish trend after a rather grim dip towards the $8000 mark. However, Bitcoin price observed a corrective move towards the $9380 mark, and at the time of writing, BTC is emerging out of the corrective phase.
Bitcoin price chart by Trading View
At the time of writing, BTC price has been moving above and below the $9400 mark and stood at $9397.
Bitcoin price movement: What to expect?
Bitcoin price is moving in a strange trajectory where the price trend is slightly bearish while at the same time, it is facing very strong resistance. Trading view analyst TranTankt believes that the cryptocurrency is facing the strongest resistance in the $9500 to $9600 range.
Bitcoin price chart by Trading View
While the strongest resistance point, according to Tran Tankt, stands at the $9644.16 mark. Whereas, the support lies at the $9094.23 mark.
On the other hand, another Trading view analyst Jinn Nack believes that the BTC price line is sandwiched between the support and the long term resistance line.
Bitcoin price chart by Trading View
Nack believes that the last time the movement was completed, BTC price shot up to the moon, and it appears that a similar trend is in action. However, BTC price can take any side either in the bullish or in the bearish zone, an action that is yet to play out.
Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com holds no liability towards any investments based on the information provided on this page.
