Bitcoin – BTCUSD First Attempt at 9,000 Failed – What Next?

Bitcoin – BTCUSD price after the two day correction resumed the positive momentum and managed to hit the $9,000 mark for the first time since November. Bitcoin in early Asian trading session hit the daily high and retreated. As of writing BTCUSD is 2.30% higher at 8,922. The capitalization now stands at 161.47 billion. The capitalization of the 100 largest digital currencies is at 244.42.

Bitcoin is accounting now for 66.1% of the total crypt capitalization. Bitcoin is 24.10% higher in 2020 in an excellent start for the cryptocurrencies. The successful launch of BTC options contracts at CME shows the increasing interest from institutional investors in Bitcoin derivatives.

Ethereum (ETHUSD) is 4.14% higher at $170.88, while Litecoin LTCUSD trades 4.19% higher at $59.92. Ripple is 2.22% at 0.2338.

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Bitcoin – BTCUSD Capped at 9,000

Bitcoin trades today close to two-month highs as the bullish momentum in bitcoin and all the cryptocurrencies is intact.

Bulls will face the intraday resistance at 8,998 the daily high. A break above the 200-day moving average at 9,065 might be the start of another leg higher. Next supply zone stands at 9,252 the high from November 8th.

On the downside initial resistance will be met at $8,661 the daily low. If the crypto pair breaks below the next support stand at 8,562 the low from January 15th. A move below the 100-day moving average at 7,961 would cancel the positive momentum.

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