RATE Group | Bitcoin (BTC) Price Rebound Facing Key Resistance Near $9,100
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Bitcoin (BTC) Price Rebound Facing Key Resistance Near $9,100

11 Nov Bitcoin (BTC) Price Rebound Facing Key Resistance Near $9,100

Posted at 06:53h in Bitcoin News by

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  • Bitcoin price started an upside correction from the $8,674 swing low against the US Dollar.
  • The price is up around 3%, but it is facing hurdles near the $9,100 and $9,150 levels.
  • There is a key bearish trend line forming with resistance near $9,100 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • On the downside, there is a decent support forming near the $8,860 levels.

Bitcoin price is currently correcting higher above $8,800 against the US Dollar. However, BTC is still facing a couple of key hurdles near $9,100 and $9,150.

Bitcoin Price Analysis

After a major decline, bitcoin found support near the $8,670 level against the US Dollar. A new monthly low was formed near $8,674 before the price started an upside correction.

The price recovered above the $8,800 and $8,900 levels. Moreover, there was a break above the $9,000 resistance area and the 100 hourly simple moving average. The bulls were able to gain strength, but they faced a strong selling interest near the $9,150…

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