@Paius_17 25 May 2020 more from that month

BITCOIN PRICE ANALYSIS: What's next as BTC tests $8600

**Bitcoin bounces off support at $8,600 towards the short term goal at $9,000.** **BTC/USD is in the hands of the bulls especially with the RSI holding above 70 (overbought region).** Bitcoin price has continued to face increasing selling activity. The weekend session was not different as seller domination continued. BTC/USD extended the bearish leg further below $9,000 to the extent of testing support at $8,600. The largest **cryptocurrency** is currently trading at $8,780 after a minor recovery from the aforementioned support area. https://www.fxstreet.com/cryptocurrencies The prevailing trend in the Asian session on Monday is surprisingly bullish especially with the **volatility** being high. Other cryptocurrencies are also trying to come out of the weekend dip, for instance, Ethereum is up 1.46% to $202.50 while Ripple is up 0.67% to exchange hands at $0.1937. https://www.fxstreet.com/technical-analysis/volatility The trading action in the near term is likely to remain sideways with a consolidation between $8,700 and $8,800. The RSI is holding onto the level at 70 after upward movements became unsustainable. The main goal among the bulls is to pull the price above $9,000 in order to shift the attention to $10,000. In the meantime, holding above the short term support at $8,700 is key to the short term movements towards $9,000. Past $9,000, buyers should be ready to deal with the selling pressure at the 50 SMA and the 100 SMA in the hourly range, the trendline **resistance**, and the hurdle at $9,200. https://www.fxstreet.com/technical-analysis/support-resistance