Bitcoin has recovered back above the $9,000 level, following a brief drop towards the $8,900 area during yesterday’s US trading session. BTCUSD bulls need to move price above the $9,225 level to encourage a technical test of the current monthly high, around the $9,300 level. The short-term bullish cause for the BTCUSD pair will start to increase if buyers can create new higher highs.
The BTCUSD pair is only bullish while trading above the $9,225 level, key resistance is found at the $9,300 and the $9,500 levels.
If the BTCUSD pair trades below the $9,225 level, sellers may test the $9,000 and $8,900 support levels.