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Crypto market update: Bitcoin (BTC/USD) bulls strongly bought the dips

  • Bitcoin late on Monday is trading up within gains of some 5%, comfortable within $9000 territory.
  • There is one barrier ahead of the big $10,000 return, bulls must breakdown $9500.
Crypto market update: Bitcoin (BTC/USD) bulls strongly bought the dips
Ken ChigboKen ChigboIndependent Analyst

The Bitcoin price is trading in the green with decent gains of around 5%, towards the latter stages of trading on Monday. BTC/USD is trading firmly within the $9000 price territory, as bulls look to stabilize.

BTC/USD was making solid momentum to the upside early in the session on Monday, before running into sellers heading into $9500. The price was forced to dip and retest $9000 to the downside, however, buyers quickly swooped in and bought on that.

The next major upside target barrier is just ahead and runs through the $9500 area. Should the bulls pickup enough upside momentum, a breakthrough could send the price flying back towards the big psychological $10,000 mark.

BTC/USD daily chart

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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