BTC has been hovering around $9,000 for a whole day, judgng by the volumes, however, BTC is believed to effectively break $9,000 and test $9,500.
Even if price manages to unlock the area above $9,500, BTC is more likely to correct lower after rally.
Short-term trend seems clear as BTC is believed to oscillate between $8,700 and $9,100 in the coming days with support at $8,700.
When correction is completed, price holds greater chances to keep moving up as strength from bears is weakening. Window for daily traders will be opened every time price corrects lower.
Original by Kuang Ren, translated by AICoin Jami.
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https://www.aicoin.net.cn/article/18038.htmlI totally agree with the statement. Its looks like we are having a hard time to even go to $9500 and the price keeps fluctuation from $8900-$9000 in the last 12 hours or so.
It looks to me that this is the new mental barrier. Investors are somewhat waiting for other signs before engaging themselves. So if ever we push to $9500, it might take several days to see it go over the $10000 as I'm expecting a minor pullback along the way.
Let's see how it goes for the next couple of days because weekend is coming. And we all know that sometimes during weekend, minor dump is to be expected. I say that we are going to see $9000 for quite some time before making a move towards $9500.