Over the past week Bitcoin has been going sideways in the range of $9,000 – $9,400. Thus, looks like a very healthy move and expected consolidation at that area, considering the fact that $9,000 was a strong resistance level.
The trading volume is pretty low, typically to weekends. It will be interesting to see where BTC will head from here and to which direction the market is planning to breach out. From the bull side – there is the $9,400 resistance level. breaking it will probably lead a quick move to the $9,800 – $10K important level. From the bear side, breaking down the $9,000 support area will lead a move to ~$8,400 – $8,600 support. Right now Bitcoin is consolidating on top the uptrend line where the MA-50 support is at.
