9 July BTCUSD Price Technical Analysis: Pair is strongly bullish


Bitcoin is trading above $6,500 on Monday. Looking at the chart, should traders expect further gains this week? What does the following 9 July BTCUSD Price Technical Analysis reveal?

9 July, OctaFX Bitcoin continues to trade towards the $6,650 resistance level in early Monday trading, after finding strong technical support just the $6,400 level on Friday.

BTCUSD bulls now need to break above the $6,700 level to validate the bullish inverted head and shoulders price pattern across various time frames. BTCUSD sellers will attempt to break the key $6,400 level for a technical test of the $6,220 level.

9 July BTCUSD Price Technical Analysis

  • The BTCUSD pair is strongly bullish while trading above the $6,700 level, further upside towards the $7,000 and $7,400 levels remains possible.
  • If the BTCUSD pair moves below the $6,400 level, sellers will likely test towards the $6,250 and $6,058 support levels.

Disclaimer

This article about 9 July BTCUSD Price Technical Analysis was provided by OctaFX. It should substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

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