Usman Salis
According to the data presented by Skew, Bitcoin (BTC) increased by 16% on CME yesterday.
It means that traders are becoming more active and there may be a volatility increase shortly.
Yesterday, buyers were able to form a strong bullish momentum and broke through the key resistance of $9,300. In the afternoon, the pair tested the 38.2% Fibo level ($9,441), which pushed the BTC price back to the $9,320 mark.
Over the past night, buyers tried to restore the pair, but on small volumes, they could not return the price to the area of yesterday's high. If the level of $9,300 acts as support today, the bulls may continue to recover towards the blue uptrend line.
If the bears push the price of $9,300, then one can count on the support of the two-hour moving average EMA55.
Bitcoin is trading at $9,365 at press time.
Usman Salis
