TA: Bitcoin Near Crucial Juncture, Why Bulls Could Aim Fresh Increase

TA: Bitcoin Near Crucial Juncture, Why Bulls Could Aim Fresh Increase


Bitcoin price extended its decline and tested the key $40,750 support against the US Dollar. BTC could start a fresh increase as long as it is above $40,750.

Bitcoin extended its decline below the $42,000 and $41,200 support levels. The price is now trading below $42,500 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $42,100 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a decent increase as long as it is above the $40,750 support zone. Bitcoin Price Tests Key Support

Bitcoin price remained in a bearish zone below the $42,500 level. BTC extended its decline below $42,000 and settled below the 100 hourly simple moving average.

Trending: REPORT: Vaccinated Delta Pilot Dies Mid-Flight, Plane Makes Emergency Landing

There was a break below the $41,200 level, but the bulls protected the $40,750 support zone. A low is formed near $40,772 and the price is now rising. It surpassed the $41,200

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