After a consolidation period at the end of February, Bitcoin (BTC), as well as most other coins, has returned to its bullish cycle. All of the top 10 cryptocurrencies are in the green zone.
At the same time, the dominance rate of Bitcoin (BTC) is in a sideways trend and is currently at 63.3% on the index.
The relevant data for Bitcoin is below.
Market Cap: $160 737 892 064
Price: $8 807,62
Volume (24h): $42 007 527 985
Change (24h): 0.13%
The data is current at press time.
BTC/USD: Can the $9,000 resistance level be broken in the short term?
Bitcoin (BTC) failed to break the $9,000 resistance level in its first attempt. However, it has maintained positive price dynamics.
On the hourly chart, the main crypto is facing a short correction after a drop from $8,900. The lines of the MACD indicator are going down, confirming an ongoing decline.
In a more likely scenario, Bitcoin (BTC) is about to find support in the $8,650-$8,750 range. If bulls hold that level, traders can expect growth to $9,000 and above.
On the daily time frame, the last candle closed bullish, indicating long-term prospectives for buyers to reach beyond $9,000. Moreover, the trading volume is increasing, which is a positive signal. As a result, there are many reasons that Bitcoin (BTC) could attain the crucial $9,000 mark.
Bitcoin (BTC) is trading at $8,787 at press time.
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