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Bitcoin Shows Strong Support In Upper $8,000 Region, Where It Goes Next Is Up For Debate

Emily Mason

Summary: Bitcoin is testing last week's resistance level at $9,300 after dropping below $9,000 Sunday, July 5. Support in the upper $8,000 region has proved strong as buyers have pushed BTC up from this level several times over the past weeks. The currency held tightly between $9,000 and $9,300 last week. One trader noted in a ...

Bitcoin is testing last week's resistance level at $9,300 after dropping below $9,000 Sunday, July 5.

Support in the upper $8,000 region has proved strong as buyers have pushed BTC up from this level several times over the past weeks. The currency held tightly between $9,000 and $9,300 last week.

One trader noted in a tweet that he expects Bitcoin to drop down to the $6,000 region before rebounding up to $15,000. Another popular trader pointed out a recently formed pennant pattern and is waiting to see how it finishes before making predictions about Bitcoin's trend.

By Emily Mason

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