RATE Group | Bitcoin Forms Uptrend EMA Support as Case for Bulls Strengthens
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Bitcoin Forms Uptrend EMA Support as Case for Bulls Strengthens

06 Nov Bitcoin Forms Uptrend EMA Support as Case for Bulls Strengthens

Posted at 21:17h in Bitcoin News by

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Bitcoin’s price has been slowly inching higher after briefly visiting its range lows around $9,000 this past weekend, but in order for bulls to maintain their growing strength, it is imperative that they push BTC past its range high resistance level at $9,500.

Analysts are now noting that the bull case for Bitcoin may be growing stronger, as the crypto has begun finding strong support at a key technical level and has been incurring increasing on-chain volume – factors that could help push the crypto higher in the near-term.

Bitcoin Inches Higher as Trading Volume Climbs

At the time of writing, Bitcoin is trading up just under 1% at its current price of $9,375, which marks a slight climb from its daily lows of just under $9,300.

Bitcoin’s slow and steady climb over the past few days was first sparked when BTC fell towards $9,100 this past weekend, and it has been slowly climbing back towards its range highs at $9,500 in the time since.

How Bitcoin responds to its range highs in the…

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