After a few days spent under the $8'600 level, the Bitcoin price managed to broke the resistance and came back above the 20 days moving average this Sunday.
Current support/Resistance: $8'600/$9'000
Saturday, the price closed below the 20 days moving average, a trend line that has been giving relevant information over Bitcoin's lifetime. It triggered a sell signal, however, it was not sufficient to drive further drop. The price came back strongly this Sunday, by breaking above this trend line as well as the $8'600 level. This rally reinforced confidence in the support of around $8'000. Furthermore, the rush was in tandem with the gold price, while S&P 500 experienced its worst week since the middle of August. Bitcoin proved itself once again to play the role of a hedge from the stock market.
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