Bitcoin Price Technical Analysis – BTC/USD Testing Key Support

9 May 2018

Key points:

T

• he price of bitcoin rebounded from the support line of $ 9000 against the US dollar.
  On the hourly chart, the price of BTC / USD broke a short-term downtrend, there was also a crossing of the MACD signal line and confidently enters the positive zone.
  In the corridor of the bollinger the price confidently crossed the moving average and reached the upper boundary.
  

You can expect to rebound the price to the resistance level $ 9600 at the breakdown of the current resistance level $ 9300.

After a short correction to the support level of $ 9000, Bitcoin's price turned to test resistance at $ 9300. At the same time, the price on the hourly chart crossed MA 50.



4-hour chart
Looking at the 4-hour chart, you can trace the movement of Bitcoin's price to the moving average inside the Bollinger Corridor. In addition, there is a strong bullish movement on the indicator StochRSI. When crossing the signal line on the 4-hour chart, expected at $ 9,600, we can see the movement of Bitcoin's price to the next resistance level of $ 9,900.