Bitcoin’s recent bullishness has come to a grinding halt when BTC faced multiple firm rejections earlier today after attempting to break above the strong resistance that exists between $9,800 and $10,000.
This intense resistance, however, has not yet catalyzed any notable sell-off, which seems to elucidate some underlying strength amongst the crypto’s buyers, and may suggest a break above this level is imminent.
Further enhancing this bullish possibility is the fact that BTC’s volume delta also seems to suggest that a continuation of its upwards momentum is imminent.
Bitcoin Pushes Against $9,800 as Buyers Attempt to Break Intense Resistance Level
At the time of writing, Bitcoin is trading up nominally at its current price of $9,780, which is around where it has been trading at over the past day as bull’s struggle to extend their recently discovered momentum.
It is important to note that BTC has made multiple attempts over the past several hours to gain a solid foothold in the $9,800 region, but all these attempts have been to no avail, as the selling pressure around this region is rather intense. Read More...