BTCUSD $9,400 major resistance

Bitcoin is starting to push to the upside on Thursday after buyers staged a powerful rally above the $9,000 resistance level yesterday. Technical analysis suggests that gains above the $9,400 resistance level could see the BTCUSD pair rallying towards the $10,000 level. At this stage, a loss of the $8,700 support level may encourage heavy technical selling towards the $8,000 area.

• The BTCUSD pair is only bullish while trading above the $8,700 level, key resistance is found at the $9,400 and the $10,000 levels.

• If the BTCUSD pair trades below the $8,700, sellers may test the $8,400 and $8,000 support levels.