Bitcoin (BTC) Will Likely Reach $9,600, According to an Analyst

Bitcoin (BTC) is about to keep growing after making a retest at the $9,200 mark, followed by a rise to $9,600.

According to the trader, Crypto Michaël (@CryptoMichNL), Bitcoin (BTC) is about to continue growing after making a retest at the $9,200 mark. Then, the growth is possible to $9,600.

Image source: Twitter @CryptoMichNL

The current level is considered to be an accumulative period, which Bitcoin (BTC) needs to keep rising.

Image source: TradingView BTC

On the 4H chart, the situation is not so optimistic, because the growth has stopped as the trading volume has decreased. Thus, Bitcoin (BTC) has retested the top of the falling channel making a false breakout of it. In this case, there are low chances for the leading crypto to keep rising. If the coin makes a reversal, bears might seize the initiative and get the rate back to $9,000. Such scenario is relevant until the end of the month.

Bitcoin is trading at $9,144 at press time.

#BTC #Bitcoin #Bitcoin Price #Crypto Trading

Peter Smith E-mail

Pete is an expert in content creation with a passion for the global economy and equities market.