Jan 30, 2020
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Bitcoin Price Analysis: BTC/USD Bowing Down To Profit-Taking As $9,000 Beckons

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Bitcoin

  • Bitcoin’s chances of testing and breaking above $9,400 sabotaged by the rejection at $9,433.
  • The formation of a bullish flag pattern is a key indicator that a bullish reversal is in the offing.

Bitcoin is faced with increased selling activity after the recovery that achieved a new January peak at $9,433. The desire to test and break the critical hurdle atv$9,500 has been thwarted by the depressing bearish activities since Wednesday. The Asian session on Thursday is still grappling with the same pressure with BTC having lost 0.44% of its value.

BTC/USD 1-hour chart

BTC/USD price chart
BTC/USD price chart by Tradingview

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