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Bitcoin Bulls Are Running Again – Is $9,000 The Weekend Target?

Bitcoin Bulls Are Running Again – Is $9,000 The Weekend Target?
After over a week of consolidation, bitcoin price has started to move again as we enter the weekend. Many had anticipated a selloff and larger correction, which still may come, but at the moment the bulls are back in play as BTC breaks resistance.

BTC/USD Breaks Resistance
From an intraday low of around $8,200, bitcoin price shifted gear and broke this resistance level to push to a high of $8,730 a few hours ago during early Asian trading. The 6% gain has had the usual effect of lifting most of the altcoins with it. Bitcoin volume has also increased to its highest level for over a week which is back above $20 billion.
At the time of writing, BTC 0 0 had retraced slightly but was still trading at a two week high of $8,650.
BTC prices 1-hour candles – Tradingview.com
Bitcoin Correction Fears Fading
Now that the expectations of a massive correction have started to dissipate, and the head and shoulders formation has broken down, traders and analysts are turning to the charts to map out bitcoin’s next move .
Analyst Josh Rager has shared  two possible scenarios revolving around a resistance level at $8,566.
Battle at the $8566 resistance. Two possible scenarios:
1. Close above this level and continue up to $8750+
2. Close below level, retest $8k area followed by push back up to $8750+
The next couple hours will be key for 4hr and daily close.

$BTC Update
Battle at the $8566 resistance
Two possible scenarios:
1. Close above this level and continue up to $8750+
2. Close below level, retest $8k area followed by push back up to $8750+
The next couple hours will be key for 4hr and daily close pic.twitter.com/QFCS6jSjiv
— Josh Rager 
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