Bitcoin Price $9.5K Resistance Puts BTC Halving Rally in Jeopardy

Investors in Bitcoin (BTC) have seen a tremendous week, as the price of the top-ranked cryptocurrency rallied from $7,500 to $9,500. A rally of $2,000 in just a matter of a week.

Is this halving FOMO? Sustainable growth? All questions are arising in the recent movements, but overall a solid week for Bitcoin and crypto. What can the markets expect from here?

Crypto market daily performance. Source: Coin360

Bitcoin touches a crucial resistance level and rejects

The price of Bitcoin held the $7,600 level for support throughout the beginning of the week and momentum picked up after breaking $7,800.

The rally of Bitcoin ended at the significant resistance block between $9,200-9,500. Why did it stop there? This whole resistance zone provided support throughout the summer of 2019.

BTC USD 1-week chart. Source: TradingView

Alongside with the horizontal resistance zone, the CME futures chart showed a clear CME gap between $8,200-9,055, which closed during the given rally.

The chart is also showing…