State of Mind : BTC, potential return to $9,200 support zone ?

BITTREX:BTCUSDT   Bitcoin / Tether
New day on the crypto planet!

What is the feeling today?

Well the session starts in the red today! As we had previously announced, a correction was not impossible and even likely after the upward acceleration of recent weeks. Market capitalization is therefore down today and stands at 416 billion dollars.

The Bitcoin almost tested the $9,800 level a few hours ago and a sharp bearish reaction followed, bringing prices back to the $9,200 range. This movement was foreseeable as a downward divergence was visible on the CCI . The BTC is currently trading at $9,356 but it is not impossible that it will return to test the $9,200, now serving as a support area .

Nevertheless, the technical indicators, although negative in the short term, remain on an upward trend over the daily horizon. As said above, a return and even a break of the $9,200 is not impossible but it should not hinder the bullish recovery in the long run!

As usual, be careful and use stop-loss!

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