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Bitcoin hovering at 9,000 level

Written by  Jul 02, 2020

Recently, bitcoin price made another attempt to break the USD 9,300 resistance, but it failed.

BTC is currently consolidating near the USD 9,000 level and the chances of an upside break above the USD 9,300 resistance is unlikely at this point.

Total market capitalisation

Bitcoin Pauses Below USD 9,300, Altcoins Signaling Fresh Increase 101
Source: www.tradingview.com

Bitcoin price

The current technical structure suggests bitcoin price could clear the USD 9,300 resistance. If the bulls succeed in gaining traction above USD 9,300, the price may perhaps rise steadily towards the USD 9,500 and USD 9,550 levels. Any further gains could open the doors for a test of USD 10,000.

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Conversely, the price might start a sharp decline below the USD 9,050 and USD 9,000 support levels. The next key support is at USD 8,800, followed by USD 8,500.

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Paul Saunders

Crypto tech journalist, Paul specialises in Crypto news having worked and traded in the field for over 5 years and has previous Blockchain admin roles to his credit. His knowledge and experience in Crypto tech is very important to us and his contribution is invaluable.

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