BTCUSD Bulls Returning

Bitcoin could attack towards the $10,000 resistance level again this week after bulls successfully defended the $9,300 level over the weekend. A breakout above the $9,550 resistance level exposes further upside in the BTCUSD pair towards the $9,800 level. Given the overall medium-term bullish trend in the Bitcoin, buyers could easily rally the cryptocurrency towards the $10,500 level this week.

The BTCUSD pair is only bullish while trading above the $9,300 level, key resistance is found at the $10,000 and the $10,500 levels.

If the BTCUSD pair trades below the $9,300 level, sellers may test the $9,000 and $8,700 support levels.

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Octa (formerly OctaFX) is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and a variety of services already utilised by clients from 180 countries with more than 40 million trading accounts.

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