The Bitcoin price was rejected by the 200-hour moving average at $9200.
BTC has created a triple bottom near $8200 — which is combined with a bullish divergence.
The crypto-market leader is following a long-term ascending support line.
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On May 12, the Bitcoin price mostly consolidated between $8200-$9200. The price made an attempt at moving above $9200 but was swiftly rejected and dropped sharply — reaching a low of $8200 before bouncing upward. The rejection occurred right between the 0.5-0.618 fib levels and was strengthened by the presence of the 200-day moving average (MA). This left a long upper wick in place —