Express

Bitcoin Fails To Break Out Of Lower $9,000 Region, Flashes Other Signs Of Weakness

Emily Mason

Summary: Bitcoin's continued trading in the lower $9,000s has caused confidence in the currency to waiver. While one Bloomberg analyst believes that Bitcoin's consolidation between $9,000 and $10,000 is a precursor to a massive move upwards, other indicators are not so optimistic. $9,225 has recently flipped from a support to a resistance for Bitcoin, leading one ...

Bitcoin's continued trading in the lower $9,000s has caused confidence in the currency to waiver.

While one Bloomberg analyst believes that Bitcoin's consolidation between $9,000 and $10,000 is a precursor to a massive move upwards, other indicators are not so optimistic.

$9,225 has recently flipped from a support to a resistance for Bitcoin, leading one analyst to note in a tweet that bulls want to regain that level to fight against a bearish outcome. This paired with regular rejections at $10,000 and lower highs suggests a disappointing future for Bitcoin in coming weeks.

By Emily Mason

Last Update:

Tags: ,
Link: Bitcoin Fails To Break Out Of Lower $9,000 Region, Flashes Other Signs Of Weakness   [Copy]
Next:

Related Articles

  • BTC Weekly Outlook: The Oversold Bounce—A Bottom or a Shorting Opportunity? 1 day ago
  • The Making of a Political Darling: Is Chainlink’s Government Deal a Victory for Tech or... 5 days ago
  • Google Steps Into Blockchain: A New Front in the “Ledger Wars” 7 days ago
  • Bitcoin Weekly Analysis: Is a Bear Market on the Horizon? 9 days ago
  • AI Fraud Is Breaking the Internet’s Trust Economy. Can Compliance Tech Keep Up? 12 days ago

    • You need to login to comment.