Bitcoin bulls consolidating for an attack of the $9,000 level
Bitcoin fell down to $8,045 on Sunday, September 29 and closed the week with a 19.8 percent of a price decrease.
The most popular cryptocurrency opened the new trading period with a highly volatile session on Monday, September 30. The coin was trading in the wide range between $8,377 - $7,714.
Bulls were not only able to avoid a drop below the critical level of $8,000 but also regained positions at $8,300. As we pointed out during our previous analysis, the mentioned level is the last major support before $8k.
The BTC/USD pair closed the month of September 13.5 percent lower compared to August. The start of the new 30-day trading period did not bring any sudden changes as BTC remained relatively flat around the $8,300 level.
On Wednesday, October 2 bitcoin moved up to $8,382 and formed its third consecutive green candle on the daily chart.
As predicted, the $8,000 support is playing well for the moment. If bulls hold and consolidate above $8,300, we can expect an attempt towards $9,000
The most popular cryptocurrency opened the new trading period with a highly volatile session on Monday, September 30. The coin was trading in the wide range between $8,377 - $7,714.
Bulls were not only able to avoid a drop below the critical level of $8,000 but also regained positions at $8,300. As we pointed out during our previous analysis, the mentioned level is the last major support before $8k.
The BTC/USD pair closed the month of September 13.5 percent lower compared to August. The start of the new 30-day trading period did not bring any sudden changes as BTC remained relatively flat around the $8,300 level.
On Wednesday, October 2 bitcoin moved up to $8,382 and formed its third consecutive green candle on the daily chart.
As predicted, the $8,000 support is playing well for the moment. If bulls hold and consolidate above $8,300, we can expect an attempt towards $9,000