Bitcoin Price Prediction: Bitcoin Reaches the $9,200 Resistance, Faces Rejection at the Overbought Region ByAzeez MustaphaPRO INVESTOR Updated: 16 August 2021 DisclosureWe sometimes use affiliate links in our content, when clicking on those we might receive a commission – at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy. Join Our Telegram channel to stay up to date on breaking news coverage Bitcoin (BTC) Price Prediction – May 28, 2020Yesterday, Bitcoin bulls have succeeded to break above the $9,000 resistance and reached a high of $9,200. As earlier anticipated, if the price is pushed above $9,300 and it is sustained, there is a possibility of a retest of the $10,000 resistance. Key Levels:Resistance Levels: $10,000, $11, 000, $12,000Support Levels: $7,000, $6,000, $5,000 BTC/USD – Daily Chart For a possible retest of the $10,000 overhead resistance, the price must be in the upside range between $9,300 and $10,000. At the time of writing, BTC/USD pair has risen to $9,200 but the price action is indicating a bearish signal. There is a possibility of price falling because BTC has reached the overbought region of the market. Sellers may likely emerge to push prices downward. In the meantime, Bitcoin is trading above $9,000 and the bulls must take price to the upside range before the resumption of testing the overhead resistance. In the upside range, the bulls fluctuate between $9,300 and $10,000 to retest the overhead resistance. On the upside, if the bulls successfully break above $9,300, the upward move will be accelerated to retest the overhead resistance. Conversely, if the bulls fail to break above $9,300, BTC will decline and fall back to the $8,600 and $9,000 price range. In the meantime, BTC is at level 53 of the daily Relative Strength Index. This indicates that BTC is in the uptrend zone.BTC/USD Medium-term Trend: Bullish (4-Hour Chart) BTC/USD – 4 Hour Chart On the 4 hour chart, the bulls break above the 12-day and 26-day EMAs to reach a high of $9,224. There was a pullback as the coin fluctuates below $9,200 resistance. The king coin is fluctuating because the crypto is in the overbought region as sellers may appear in the overbought region. BTC has risen above 80% range of the daily stochastic. The stochastic bands are attempting a U-turn indicating a downward move. Please note: Insidebitcoins.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results. Join Our Telegram channel to stay up to date on breaking news coverage