*As at when publishing, BTC/USD had risen beyond $9,000 to trade past $9,200
*BTC/USD has been unable for the umpteenth time to crack the trendline support built on its daily chart since March 12 Market Carnage
*Bitcoiners Mark Bitcoin Pizza Day reminiscent of May 22, 2010, when a Floridian man, Laszlo Hanyecz first used Bitcoin in a sale transaction paying for two pizzas at 10,000 BTC
BTC/USD Daily Chart
On the downside a transition underneath $9,000 may raise downside pressure and concentrate on $8,800. It’s followed by a more powerful $8,500 barrier established by MA 200. Once breached, the sell-off may gain a foothold with the next emphasis on the region of $8,200-$8,000.
BTC/USD 4-Hour Chart
The BTC/USD pair is now only bullish whilst exchanging beyond the level of $9,500; the main resistance is encountered at the level of $9,800 and $10,000. If the BTC/USD pair trades underneath the $9,200 level, sellers may test the support levels of $8,800 and $8,500. Bitcoin, nevertheless, is striving to retain an uptrend, and is likely to persist shortly with the range trading.
Image Credit: Shutterstock
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