The crypto-currencies showcase is grabbing a seat today after a solid run-up. Bitcoin is holding in the $9,300 territory at mid-morning subsequent to ascending as high as $9,500. The subtle $10,000 hindrance is in locate, however the walk towards it continues getting slowed down by anxious speculator pullbacks.
There is a lot of people taking their profits at the $9500 level which seems to be the major resistance that is preventing bitcoin going up further in this pump. I've been expecting this ever since this pump started, though.
From a long term holder's point of view, none of this really matters.
From a trader point of view, though, this isn't the start of a new bull market that people may be looking for because there just hasn't been enough time for prices to consolidate yet after the previous huge bull market. And with just one small rally, people seems to be back to buying irrationally due to FOMO again. That's obviously never a good time to enter the market for the short term.