Bull Flag Breakout Brings Bitcoin Price To $9,200 Altcoins Follow Suit

Bitcoin (BTC) worth has up over the $9K mark for the second time in 24-hours. On Saturday the day bulls managed to push the value of the highest listed crypto-asset on CoinMarketCap to $9,010 nevertheless the worth shortly rejected on the prime of the bull pennant and pulled once again to the $8,800 assist earlier than making a profitable second try at break out.

Crypto market daily price chart

The prison-breaking introduced the value to $9,200 and on the time of writing Bitcoin worth has pulled once again to the $9,100 stage the place merchants try to determine assist.

On the shorter timeframe merchants will word that the prison-breaking occurred on a slight spike in amount nevertheless buying amount has now returned to the degrees seen earlier inside the day.

BTC USDT 4-hour chart

Just few prospects may exhaust over the consequent few hours: Bitcoin worth may consolidate between $9,200 and the bull pennant trendline which can be aligned with a excessive amount node on the VPVR at $8,900.

Another extra optimistic end result would entail Bitcoin worth pushing via the resistance at $9,200 to take advantage of a small hole on the VPVR from $9,176-$9,486.

A brief-term disheartened situation would happen is the value pulled under the 20-MA and $8,685 as the value may then drop to $8,400.

At the time of writing, a optimistic end result appear extra apparently because the MACD and RSI stay optimistic on the 1 and 4-hour timeframe.

Risk antipathetic merchants are more likely to watch for a retest of the $8,800 assist whereas extra aggressive merchants may entertain shopping for a prison-breaking above $9,200 and revenue taking at $9,400 and $9,700.

Bitcoin daily price chart

A handful of altcoins additionally rallied increased as Bitcoin rallied above $9,000. Ether (ETH) gained 2.34%, Litecoin (LTC) added 3.24%, Ethereum Classic (ETC) aroused by a powerful 11.59%.

According to CoinMarketCap, the general cryptocurrency market cap now stands at $254.9 billion and Bitcoin’s dominance fee is 65.7%.

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Bull Flag Breakout Brings Bitcoin Price To $9,200  Altcoins Follow Suit

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