- Bitcoin price hovers slightly under $9,500 as consolidation takes center stage.
- The failure to sustain gains above $9,600 gave the bears an opportunity to formulate a revenge mission.
Spot rate: $9,270
Relative change: -54
Percentage change: -0.58%
Trend: Bearish bias
Volatility: Expanding
BTC/USD daily chart
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Despite the rejection encountered at $9,630, Bitcoin continues to cultivate an uptrend within an ascending channel.
Bitcoin’s most prominent short term support holds the position at the 61.8% Fibonacci at $9,000.
BTC/USD 4-hour chart
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If the Bollinger Band lower curve gives in to the selling activity, chances are that BTC could breakdown further towards $9,000.
The main trendline is still in place to offer support and ensure the uptrend does not falter.
BTC/USD 15-minutes chart
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The region between $9,150 and $9,200 is standing out as credible support in short term trend analysis.
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