Bitcoin Update: Support has held, need a breakout for a continuous uptrend

In the last Bitcoin update, four days ago, the price was at 8500 and was trying to break the upper trendline. As you can see by the chart, it did and ever since it has hit highs of 9195. The price then dropped yesterday from 9000 to 8300, and is now starting to bounce currently.

Now obviously the 8300 level was a known support level, which was the reason for this bounce. Since we are sitting at 8900 at the moment, the real test will be if Bitcoin is capable of breaking 9000. 9000 was a heavy point of resistance, the price has struggled repeatedly at that area.

Nevertheless, the times that the price broke above 9000 it quickly dropped, so the real area of validation of a breakout to 10k in my opinion will be the 9329 resistance, the 200 EMA.

This would also invalidate the idea of the ABCDE correction, and honestly something drastic whether it'd be news oriented or not would have to happen to Bitcoin for it to go to 10k and then return back down to 6k again.

If this does occur, then as I stated in the last update, breaking above 10k could be the confirmation of a short-term bullish uptrend, but honestly I feel as though an alternate scenario is better for Bitcoin. For a strong and long-term uptrend, breaching resistance at 12k will be the situation Bitcoin has to undergo most likely.