Bitcoin Broke 9000 Level & Crashed Down

Bitcoin has broken through the $9000 resistance for a short time. The surge began about 17:30 (UTC +2) about two hours ago now at the $8700 level. In some market the price even reached to $9100. Currently, the price is reaching lower than before to $8600. However, to call a panic sell is yet to early.

It is not unlikely that Bitcoin is going to retest now the previously contested $7800 – $8000 zone. A panic sell is not imminent as long as this support zone holds. The market is awaiting a strong correction. However, the 10000 level could restart a FOMO craze comparable to the last bullrun. Although the significant level seems likely to be at around 9700 as we analyzed in our last technical analysis. Currently, the volatility in the market is understandibly high and we have to await further price action to get a clearer picture of the situation.