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In this Bitcoin price analysis, the bulls have broken above the EMAs to reach the bullish trend zone and the price is likely to rise to retest the $9,000 overhead resistance.
Bitcoin Price Analysis
Bitcoin (BTC) price was in the bullish trend zone yesterday, unlike the previous week that had no significant price movement. BTC bulls have broken above the Exponential Moving Averages (EMAs) to reach the bullish trend zone. The price of Bitcoin is likely to rise to retest the $9,000 overhead resistance.
From the Fibonacci tool, Bitcoin price is in the 0.382 (38.2%) Fib. retracement level. The 0.382 (38.2%) and 0.236 (23.6%) Fib. retracement level is continuation zone for the Fibonacci tool. Bitcoin price will rise if the price is sustained above the EMAs and more buyers are introduced at the upper price level. In the meantime, the Moving Averages Convergence Divergence (MACD) line and the signal line are above the zero line which is an indication of a buy signal.
BTCUSD Price ...
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