This past week, there was a strong rally in bitcoin price above the USD 8,500 and USD 8,850 resistance levels. BTC/USD even surpassed the USD 9,000 level, before sellers appeared near USD 9,200. Recently, there was a sharp downside correction and the price declined to test the USD 8,550 support.
Similarly, there was a substantial downside correction in most major altcoins, including ethereum, XRP,