Bitcoin (BTC) course arrives again at an important resistance level

After bitcoin (BTC) found support at around $ 9,050 in recent hours , the largest cryptocurrency based on market capitalization is again trading around $ 9,300. After the course has broken out of a pattern, the course has arrived again at an important resistance level.

At the time of writing, the price of bitcoin (BTC) is $ 9,273 according to CoinMarketCap after an increase of 1.14% in the last 24 hours. This brings bitcoins market capitalization to $ 165.2 billion. Against a total market capitalization of the crypto market of $ 288.9, the bitcoin dominance amounts to 57.2%.

Yesterday, June 18, bitcoin acted on the hourly graph in a so-called symmetrical triangle pattern. This pattern is formed when there is a certain form of equilibrium on the market, a situation that often results in an outbreak.

The bitcoin rate at the top of this pattern broke out late last night, resulting in an increase of around $ 200. It thus exceeded the 50 and 100 hourly moving average (MA) lines.

Earlier this morning, bitcoin once again arrived at the resistance level of $ 9,300, a price level where it arrived three times before. The course did not break through all these times. At the time of writing, bitcoin tests this price level again. Further increases are possible with a breakthrough.

If the price again fails, the price range between $ 8,900 and $ 9,000 may again provide support. Bitcoin has been trading since June 16 in the range between $ 9,400 and $ 8,900. That range seems to be maintaining at the moment.

About Shawn Morrison 266 Articles
One of the founders of BitzArena. Active with crypto currency since the rise of the bitcoin. Loves the innovative character of crypto and blockchain technology, and follows developments in the market closely. Likes to connect technology with business, and likes to make difficult concepts accessible to a wide audience.

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