RATE Group | Bull Flag Breakout Brings Bitcoin Price to $9,200 — Altcoins Follow Suit
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Bull Flag Breakout Brings Bitcoin Price to $9,200 — Altcoins Follow Suit

03 May Bull Flag Breakout Brings Bitcoin Price to $9,200 — Altcoins Follow Suit

Posted at 05:51h in Bitcoin News by

Bitcoin (BTC) price has risen over the $9K mark for the second time in 24-hours. On Saturday the day bulls managed to push the price of the top listed crypto-asset on CoinMarketCap to $9,010 but the price quickly rejected at the top of the bull pennant and pulled back to the $8,800 support before making a successful second attempt at breaking out. 

Crypto market daily price chart

Crypto market daily price chart. Source: Coin360

The breakout brought the price to $9,200 and at the time of writing Bitcoin price has pulled back to the $9,100 level where traders are attempting to establish support. 

On the shorter timeframe traders will note that the breakout occurred on a slight spike in volume but purchasing volume has now returned to the levels seen earlier in the day. 

BTC USDT 4-hour chart

BTC USDT 4-hour chart. Source: TradingView

A few possibilities could play out over the next few hours: Bitcoin price could consolidate between $9,200 and the bull pennant trendline which is also aligned with a high volume node on the VPVR at…

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