Bitcoin ( BTC ) consolidations can be tough to chart. We came up with 9420 as a level that may be important for intraday traders.

9420 looks like a pivot point because it is the high volume price since the big explosion up. Here's how we would use that point. If XBTUSD is above 9420, Bitcoin ( BTC ) and big coins could rally, and alts might decline. If XBTUSD is below 9420, Bitcoin ( BTC ) might slump, and alts might do better.

Bottom Line: Coming up with good pivot points involves trial and error. Let's see how well 9420 works as a pivot , and we can go from there.

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