TA: Bitcoin Holds Key Support, What Could Trigger Strong Recovery

TA: Bitcoin Holds Key Support, What Could Trigger Strong Recovery


Bitcoin is still well below the $48,000 resistance against the US Dollar. BTC remains at a risk of a sharp decline if it fails to stay above the $45,500 support zone.

Bitcoin is trading in a bearish zone below the $48,000 resistance level. The price is trading below $47,000 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $47,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might start a strong recovery wave if it stays above the $45,500 support zone. Bitcoin Price Eyes Recovery

Bitcoin price attempted a fresh increase above the $47,000 level. However, BTC failed to clear the $47,500 level and started a fresh decline.

Trending: BREAKING BOMBSHELL: Video From Speaker’s Lobby Shows Ashli Babbitt Tried To STOP Attack On Capitol Before She Was Shot To Death

Continue reading

You Might Like

 

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!

Thanks for sharing!
Send this to a friend