Bitcoin broke a major resistance zone near $9,000 and $9,100 against the US Dollar. BTC price is gaining momentum and it could soon climb above $9,500 and test $10,000.
- Bitcoin started a strong rise and broke the key $9,100 resistance zone.
- The price is now trading close to $9,400 and it might soon attempt to clear $9,500.
- There is a major bullish trend line forming with support near $9,120 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could accelerate its rise if there is a proper H4 close above $9,500 and $9,570.
Bitcoin Rises Sharply
Yesterday, we discussed how bitcoin price could gain bullish momentum if it breaks $9,000 against the US Dollar. BTC price did manage to surpass the $9,000 resistance and the 100 hourly simple moving average.
The bulls even pushed the price above the key $9,100 resistance zone. There was a break above this week’s followed bearish trend line with resistance near $8,910 on the hourly of the BTC/USD pair.On the upside, the $9,400 level is an initial resistance zone. The main resistance is near the $9,500 and $9,570 levels. If the bulls gain pace above the $9,570 resistance, the price could start a strong increase in the coming sessions. The next major hurdle for the bulls is seen near the $10,000 level.