BTCUSD recovery underway
Bitcoin has started to recover higher after dip-buyers moved in from the $9,300 support area during the European trading session. BTCUSD bulls need to move price above the $9,700 resistance area to encourage the notion that a major new price floor has been established. In case of price reverses, then a sustained breakout below the $9,100 could prompt a decline towards the $9,800 level.
The BTCUSD pair is only bullish while trading above the $9,400 level, key resistance is found at the $9,700 and the $10,100 levels.
If the BTCUSD pair trades below the $9,400 level, sellers may test the $9,100 and $8,700 support levels.