Bitcoin consolidates slightly over $ 9,300. Will it have the strength to overcome the resistance at $ 9,450?
Bitcoin continues in a small consolidation over $ 9,300. After an increase of 13.45% since last January 26, the resistance of $ 9450 has slowed down, without a doubt an area of great importance this week in the price that if surpassed would imply a new upward movement to return to The $ 10,000.
As you can see in the graph and as we said in the previous analysis, we currently have two important levels in the price that can guide us to know what the price of Bitcoin will do. On the one hand the resistance 3 of the week (R3) on the $ 9,450 and on the other the resistance 2 (R2) on $ 9,134.
A rupture of either of these two levels will lead to a strong movement in the price, if it breaks downwards we may enter another technical correction below $ 8,900, in case of a bullish breakdown of R3, we could see movements up to $ 9,750 as long as the volume is favorable.
At the moment the RSI shows signs of weakness in the impulses, but it is still possible a last upward movement that tries to break these barriers at $ 9450.