Bitcoin markets went back and forth during the trading session on Monday, as the Bitcoin/US dollar market hovers around the $9100 level. The area is where we see a lot of noise, as we have gone flat. The markets seem to have lost a lot of momentum, and therefore I think that it suggests that the $10,000 level is going to be a bit too resistive to go above. We would need to see a significant amount of volume into the market so that we can go higher, and at that point we would probably try to reach towards the $12,000 handle above. Alternately, it looks as if the $8500 level should offer support, so if we were to break down below there I think that the market could break down towards the $7000 level. There is a lot of noise in this market, so I think at this point it’s likely that we will see a lot of choppiness in a sideways manner.
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