Bitcoin<a href="https://www.cryptoknowmics.com/crypto/bitcoin-bulls-on-rampage-whats-next-for-crypto/"> bulls</a> have taken the charge over the weekend which pushed BTC price past key resistance of $9k and currently<a href="https://coinmarketcap.com/currencies/bitcoin/"> trading</a> over $9,300. Within the previous few hours, Bitcoin started surging to the upside again, with bulls eventually taking control following the 11 per cent decline last week. It attained $8.2k late last week and since then it has continued to move higher.

The bullish momentum was strong enough to push BTC price over $9.4k for a brief period. The king coin could not overcome $9.4k, despite that the technical backdrop is beginning to support more price appreciation and a further surge is not out of context.

This move took BTC over the major 200-day SMA. However, despite the price has not closed over this major technical level, staying close to $9k, analysts have been seeing this moving average as the long-term directionality indicator of an asset.

This move helped the crypto to surge over an inverse head and shoulders formation. According to Trader Mayne, the $9,350 level attained in the last hour could be a forerunner to a more rally to $9.8k. Despite the bullishness of the recent move, Bitcoin will need to close a weekly candle over $9,557 to surge higher.

Bitcoin Surges to $9.4k; Traders Believe Price Will Surge Even Further

Bitcoin bulls have taken the charge over the weekend which pushed BTC price past key resistance of $9k and currently trading over $9,300

An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.

Bitcoin Surges to $9.4k; Traders Believe Price Will Surge Even Further

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