Bitcoin price finds short term balance at $8,750, enabling an ongoing bullish action targeting $9,000. Bitcoin price trend starts to follow anew descending channel whose resistance must come down for more gains towards $9,000. Spot rate: $8,819 Relative change: 64 Percentage change: 0.8% Trend: Bullish Volatility: Shrinking BTC/USD daily chart Little progress has been made in Bitcoin’s recovery journey towards $9,000 since Tuesday. However, the bulls have remained relatively in charge containing the largest crypto by market capitalization above $8,750. BTC/USD is trading 0.8% high on Wednesday in a bullish trend amid shrinking volatility. The price is trying to find balance after breaking key ascending channel support. The immediate downside is protected by the 200-day SMA. On the upside, $8,900 continues to limit movement while $9,000 is a key resistance level. On the downside, the region between $8,400 and $8,500 is currently the major support zone for BTC/USD. BTC/USD hourly chart Bitcoin price is relatively bullish according to the gradually up trending RSI. The price has to break above a key trendline resistance to pave the way for more bullish action towards $9,000. In the hour range, BTC/USD is trading above the moving averages, where the 50 SMA at $8,779 and the 100 SMA at $8,703 will offer support in case of a reversal. Also in line to provide support is a short term channel support. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Goldman Sachs lowers Brent oil price forecast for Q2 FX Street 2 years Bitcoin price finds short term balance at $8,750, enabling an ongoing bullish action targeting $9,000. Bitcoin price trend starts to follow anew descending channel whose resistance must come down for more gains towards $9,000. Spot rate: $8,819 Relative change: 64 Percentage change: 0.8% Trend: Bullish Volatility: Shrinking BTC/USD daily chart Little progress has been made in Bitcoin’s recovery journey towards $9,000 since Tuesday. However, the bulls have remained relatively in charge containing the largest crypto by market capitalization above $8,750. BTC/USD is trading 0.8% high on Wednesday in a bullish trend amid shrinking volatility. The price is trying to find… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
