Bitcoin price breakout at the resistance level of $9,398 by the Bulls will expose the $10,016 resistance level which may be its target. Should the Bears gain enough pressure and break down the support level of $8,879 the price may decline to $8,565 level.
After the retracement, in case the Bulls gain more pressure to break up the resistance level of $9,398, Bitcoin price may target $1,016. Should the Bears defend the $9,398 level, BTC price may continue ranging within the $8,879 and $9,398 levels.
On July 13, Thursday, the BTC is consolidating around $8,131 after being much active the day before.
Should the Bullish candle penetrate the resistance level of $8,009 and close above it, Bitcoin price may move up towards $8,235. In case the Bearish candle penetrates the support level of $7,600 and close below it, $7,186 may be the next target.
If the Bears gain enough pressure to penetrate the demand level of $7,476 and the bearish candle closes below it, Bitcoin price may reach $7,085. Alternatively, if the Bulls push the price above $8,233, BTC may eventually touch a previous high of $8,608.
More pressure from the Bears after the pullback will decrease Bitcoin price further, which may break $7,600 level and target $7,195 level. Should the Bulls defend the demand level of $7,600 the coin may target $8,235 level.
Bitcoin price will reach $9,398 resistance level should the Bulls gain more pressure to push the price up. Bitcoin price consolidation may continue in case the bulls’ momentum remains weak.
The BTC is around $8,723 on May 30.
Bears are increasing their momentum as the bearish candle is pushing Bitcoin price downward to $8,233. Without the interruption of the Bulls, BTC price may reach $8,233. In case the Bulls fail to defend the mentioned level the price may target $7,812.
Should the $8,608 level hold, the bulls will continue to put the Bitcoin price on the uptrend track. In case the Bulls lose their momentum with increase in the Bears’ pressure, $8,608 level may be penetrated and the price may find support at $8,233 level.