TA: Bitcoin Price Rally Pauses But Upsides Could Restart

TA: Bitcoin Price Rally Pauses But Upsides Could Restart


Bitcoin started a strong upward move above $43,000 against the US Dollar. BTC spiked above $44,000 and currently correcting lower.

Bitcoin gained pace for a move above the $43,000 resistance zone. The price is trading above $42,500 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $43,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is correcting gains, but dips could be limited below the $43,200 level. Bitcoin Price Extends Recovery

Bitcoin price gained pace after there was a close above the $42,000 resistance zone. BTC even climbed above the $43,200 resistance zone and a close above the 100 hourly simple moving average.

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The price even spiked above

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