Bitcoin Price Just Saw Technical Correction But Key Uptrend Support Intact

Bitcoin Price Just Saw Technical Correction But Key Uptrend Support Intact


Bitcoin price started a downside correction below $23,000. BTC is testing an important support and might start a fresh increase towards $23,500.

Bitcoin started a downside correction and declined below the $23,000 support zone. The price is trading below $23,000 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $22,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh increase if it stays above the $22,000 support zone. Bitcoin Price Tests Key Support

Bitcoin price struggled to clear the $23,400 and $23,500 resistance levels. BTC started a downside correction and traded below the $23,000 support zone.

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The price declined below the 23.6% Fib retracement level

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