BTCUSD pattern forms
Bitcoin has rallied towards the $9,600 resistance area, following the announcement that the Federal Reserve will start buying individual corporate bonds. A bullish reversal pattern with around $600.00 of upside potential has been created during the recovery from the $8,900 level. Traders should note that the bullish pattern will be activated if bulls rally price through the $9,600 level.
The BTCUSD pair is only bullish while trading above the $9,400 level, key resistance is found at the $9,600 and the $10,100 levels.
If the BTCUSD pair trades below the $9,400 level, sellers may test the $9,300 and $9,200 support levels.