BTCUSD recovery begins
Bitcoin has started to quickly recover above the $9,000 level after briefly dropping towards the $8,900 support level earlier today. Negative risk sentiment in the commodity and equity markets appeared to weigh on the price of the BTCUSD pair early today. Bulls need to break above the $9,450 resistance zone to encourage a major upside push towards the $9,780 resistance level.
The BTCUSD pair is only bullish while trading above the $9,300 level, key resistance is found at the $9,450 and the $9,780 levels.
If the BTCUSD pair trades below the $9,300 level, sellers may test the $8,900 and $8,700 support levels.