Bitcoin price analysis: BTCUSD heavily bullish above $8700

28 May 2019, OctaFX – Bitcoin remains well supported above the $8,700 level after the number one cryptocurrency found interim technical resistance from just below the $9,000 level on Monday.

Bitcoin price technical analysis

If bulls can break above the $9,000 level the BTCUSD pair offers only limited technical resistance until the $9,600 level. To the downside, a break below the $8,500 level may expose another test of the $8,300 support level.

  • BTCUSD price is heavily bullish while trading above the $9,000 level, key resistance is found at the $9,600 and $10,000 levels.

  • If BTCUSD price trades under the $8,700 level, sellers may test towards the $8,300 and $8,000 support levels.

Bitcoin price analysis, BTCUSD heavily bullish, BTCUSD price


This article was provided by OctaFX. It should NOT 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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