Over the weekend Bitcoin cost (BTC) dropped below $9,000 for the second fourth dimension in 7 days only the weekly close was relatively uneventful. As covered by Cointelegraph, buyers quickly stepped in to purchase the dip at the $eight,800 support on June 27 and at the time of writing the cost is pushing toward $nine,100.

Crypto market weekly price chart

Crypto market place weekly price chart. Source: Coin360

While Bitcoin may brand a run on the $9,200, the acme-ranked digital nugget on CoinMarketCap remains pinned beneath the 20-MA at $nine,385 and a high volume node on the VPVR suggests the surface area will be a claiming to overcome in the short-term.

For the past week Bitcoin'southward momentum has waned as trading volume declined. Despite the sideways price action traders have consistently purchased recent dips beneath $nine,000, and the uptrend remains intact equally long as the price holds above $8,600.

BTC USDT daily chart

BTC USDT daily chart. Source: TradingView

One possible positive to annotation is over the weekend the 100-MA pulled above the 200-MA on the daily timeframe just ultimately hazard balky traders will exist better off waiting for a daily close above the 20-MA in the $nine,400-$9,500 zone.

Bitcoin daily price chart

Bitcoin daily toll chart. Source: Coin360

As Bitcoin price consolidates in what appears to be a tightening range, a number of altcoins capitalized on the sideways activeness by posting moderate gains. Chainlink (LINK) moved up by 3.58%, Chemical compound added 4.36% (COMP), and DigiByte (DGB) rallied 10.63%.

According to CoinMarketCap, the overall cryptocurrency market cap at present stands at $258.9 billion and Bitcoin'due south dominance rate is 64.ix%.

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