Bitcoin is back at 9400 after failing to make a run to the top of its current range. With price action being so weak of late it will be interesting to see if 9400 holds.
Stacked up at 8500
Many people have buy orders lined up around 8500 expecting price to eventually get down there. Many times the opposite will happen when a trade is crowded, but it’s looking very feasible now.
Given that said, 8500 area should be a level of support though there is some prior pivot point a bit higher.
Either way, if 9400 doesn’t hold then we are likely seeing price dip into the 8k digits.
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