Bitcoin is facing a key resistance near the $23,500 zone against the US Dollar. BTC must clear $23,500 to avoid a fresh bearish reaction in the near term.
Bitcoin is struggling to rise and trading below the $23,500 level. The price is now trading below the $23,200 level and the 100 hourly simple moving average. There is a key rising channel forming with support near $22,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must clear the $23,500 resistance to start a decent increase in the near term. Bitcoin Price Upsides Capped
Bitcoin price gained pace after it broke the $23,500 support zone. The price even traded below the $23,000 level to move into a short-term bearish
Trending: Mob Burns Accused ‘Pedophile’ Alive