Bitcoin Hits $9,400 In Vertical Rally, But It’s At Risk of A Violent Pullback For This Key Reason

Bitcoin extended its rally above the $9,200 resistance against the US Dollar. BTC tagged the $9,400 area and now it could correct lower towards $8,800 or $8,500.Bitcoin price is approaching a couple of key resistances near $9,500 against the US Dollar.
There could be a short term downside correction from $9,400 or $9,500 in the coming sessions.
Yesterday’s major bullish trend line is still active with support near $9,040 on the hourly chart of the BTC/USD pair (data feed from Kraken).
Ethe