Bitcoin price reaches $23.4K on 4.6% gains amid 'very mixed' outlook

Bitcoin price reaches $23.4K on 4.6% gains amid ‘very mixed’ outlook


Bitcoin (BTC) rebounded overnight into Aug. 5 as a fresh trendline reclaim opened the door to further gains.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewDaily BTC pricechart sets up “tentative” long signal

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD bouncing off a local bottom at $22,400 to add around 4.6%.

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The pair had reversed direction right at key bid support on major exchange Binance, this helping avoid a more substantial loss of the 200-week moving average (MA) at around $22,800.

While that key zone remained uncertain for bulls, a reclaim of the 21-period MA on the daily chart gave on-chain analytics resource Material Indicators cause for optimism.

BTC/USD might not spark a long signal at the daily candle close, it told Twitter followers overnight.

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