In this case an accumulation situation could arise, to then witness a start of a bull phase for the period up to the end of the year.
And this is also accompanied by the fact that in the coming months we will see important news releases for bitcoins.
Instead if there should be a downside break of $ 9,500 with high volumes and increased volatility, this could be a bearish signal.
This could bring the bitcoin price down to $ 7,500, where the market has previously stagnated for a long time.
This level would then be confirmed by the 200-day moving average (celestial line).
With this situation, the situation of both the bitcoin and Altcoin markets will change, in which they could still lose ground.
We just have to wait for possible market developments in the coming days and follow the news that is left every day.