Bitcoin is holding firm above the $8,000 level after a surge in the value of Ripple helped inspire a rally in the broader cryptocurrency market earlier this week. A clear range break is needed from the $7,700 to $8,500 level to increase short-term trading participation and volume. The range breakout may come this week, as another Bitcoin ETF decision is due from the Securities and Exchange Commission before October 13th.
The BTCUSD pair is only bullish while trading above the $8,500 level, key resistance is located at the $9,000 and $9,300 levels.
If the BTCUSD pair trades under the $8,500 level, sellers may test towards the $7,700 and $7,100 support levels.