Bitcoin has staged a minor recovery from the $9,100 support level, following the early breakout below the July 2nd trading low. Daily price closes around the $9,600 level are now key and are likely to be the next directional catalyst for the BTCUSD pair. Short-term technical indicators are also have a much-needed bullish correction are reaching extreme oversold conditions on Wednesday.
The BTCUSD pair is only bullish while trading above the $9,600 level, key resistance is located at the $10,000 and $10,400 levels.
If the BTCUSD pair trades under the $9,600 level, sellers may test towards the $9,100 and $8,800 support levels.