The BITCOIN prices have shot higher over the last 24 hours showing that the move lower over the last few weeks was mainly due to a well needed correction of the uptrend that we are seeing in the markets. The bulls (uptrend) are not out of the woods as yet and they would be able to breathe a sigh of relief only if and when the prices break through the highs of the current range which should spell the beginning of the next leg higher. The prices hit the support region around $8800 and still moves higher at $9200 - $9800.
FORECAST
Looking ahead to the rest of the day, we expect the BTC prices to continue to move ahead and challenge the previous highs and the price action and momentum there should tell us whether there would be a break of the highs or not.