Bitcoin Price Analysis: BTC sellers continue to lurk above $9100 on the road to recovery
|- Bitcoin fails to sustain the rebound above 9100.
- The No.1 coin looks supported around 9075 levels.
- 9140 is the level to beat for the bulls on Monday.
Unusual bouts of volatility were seen over the weekend that drowned Bitcoin (BTC/USD) as low as 8907.51 in the overnight trades. Although the bulls were quick to stage a solid comeback, as the No. 1 coin briefly regained the 9100 barrier in early Asia this Monday.
Despite the latest leg higher, the price failed to resist above the latter, as sellers returned amid a generalized weak sentiment across the crypto space. At the press time, the crypto asset posts small gains to trade around 9080.
Technical Overview
BTC/USD: Hourly chart
The 200-HMA capped the overnight rally near 9115, as the price slips back below the 100-HMA at 9100.
However, the horizontal 50-HMA at 9078 offers some temporary support to the bulls.
All in all, Bitcoin is likely to extend its range play heading into Europe, with a break above the 9140 level critical to reviving the bullish momentum.
BTC/USD: Additional levels to watch
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