- 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.