Bitcoin saw some notable overnight volatility that caused it to post an upswing followed by a swift rejection, before once again climbing higher
The benchmark cryptocurrency is now moving to test its next key resistance that sits at roughly $9,500
Analysts are now noting that a clean break throughout a heavy overhead supply region just above BTCâs current price could be just what it needs to make a move up to $14,000
Bitcoinâs intense uptrend has continued strong. The cryptocurrency is now navigating towards its next overhead supply region within the mid-to-upper $9,000 region.
It does appear that the cryptocurrency is beginning to build some serious underlying strength, as each bout of consolidation seen throughout the past couple of months has resulted in bull-favoring breakouts.
One analyst is now noting that BTC could be positioned to rally up to highs of $14,000 in the near-term if it is able to surmount the heavy resistance it faces just above its current price level.
Bitcoin Approaches Massive Resistance Region
At the time of writing, Bitcoin is trading up just under 2% at its current price of $9,400.
This marks a notable climb from daily lows of just over $9,000 that were set yesterday after the cryptocurrency initially faced a grim rejection around its current price levels.
This rejection proved to be short-lived, as buyers quickly stepped up and helped propel the cryptocurrency back up to the mid-$9,000 region.
It is important to note that it has not yet been able to
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I was just reading some guy on Twitter saying it going to 6k couple days ago he was saying 14k smh.
As long as it stays above 8300 I'm still bullish. If it loses that level then there might be a little trouble.
Hopefully it does. Well we'll see what happens on Tuesday.