Bitcoin Price Resists But Breaking This Resistance Could Encourage Bulls

Bitcoin Price Resists But Breaking This Resistance Could Encourage Bulls


Bitcoin price is struggling to clear the $17,000 resistance zone. BTC must stay above $16,000 to avoid more losses in the near term.

Bitcoin is still consolidating above the $16,350 and $16,000 support levels. The price is trading just above $16,500 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $16,750 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a recovery wave if it clears the $17,000 resistance zone. Bitcoin Price Faces Resistance

Bitcoin price made an attempt to gain strength above the $17,000 resistance zone. However, BTC struggled to remain stable above the $17,000 level.

Trending: Fake News Media Complains about Elon Musk’s Twitter Crackdown on Illicit Sexual Content

The price traded as high as $17,098 and recently started

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Daily Truth Report • DailyTruthReport.com
Thanks for sharing!
Send this to a friend