The Bitcoin cryptocurrency has appreciated about 16.74% in value against the US Dollar since last week trading sessions. The pair dashed through the $9000 mark on June 18.
Everything being equal, it is likely that the BTC/USD currency pair will make a brief retracement towards a support level formed by the 50-hour simple moving average at 8952.9 during the following trading sessions.
However, technical indicators demonstrate that the currency exchange rate could continue its upside movement in the short term.
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