TA: Bitcoin Shows Signs of Recovery, $23K Presents Resistance

TA: Bitcoin Shows Signs of Recovery, $23K Presents Resistance

Bitcoin formed a base near the $21,000 level against the US Dollar. BTC is attempting a recovery wave, but the bears might protect gains above $23,000.

Bitcoin traded as low as $20,824 before the bulls took a stand. The price is now trading below the $24,000 level and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $22,050 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must clear the $23,000 resistance zone to start a decent recovery wave. Bitcoin Price Remains In Downtrend

Bitcoin price remained in a bearish zone below the $25,000 support zone. The price spiked below the $21,000 level and settled well below the $23,000 level.

Trending: President Trump on ‘Roe v. Wade’ Repeal: ‘God Made the Decision’

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!

Thanks for sharing!
Send this to a friend