- Bitcoin prints above 9K again as sentiment turns bullish again.
- The bulls will need to target the previous wave high of 9900.31 to keep the bullish trend going.
BTC/USD daily chart
In general, the crypto maker is performing well on Wednesday as Bitcoin trades just over 3.5% higher on the session. BTC/USD once again pushed past the 9K mark after retracing to find support at 8637.26 on Monday.
From a technical perspective, the price is still in an uptrend but the key resistance is still the wave high of 9900.31. The indicators are showing a mixed picture, the Relative Strength Index (RSI) indicator has pushed above the 50 mid-point which is a bullish sign. Conversely, the MACD signal lines and histogram are still below the zero line. The 55 and 200 moving averages are under the price and could provide support in the future which is positive.
This is still technically a bullish trend but the momentum has died down somewhat recently. The only issue is the volume behind the move, there seems to be a distant lack of volume and a break would need more backing to be considered firm.
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