TA: Bitcoin Struggles Below $32K, Why Downtrend Could Resume

TA: Bitcoin Struggles Below $32K, Why Downtrend Could Resume


Bitcoin attempted a recovery wave above $32,000 against the US Dollar. BTC is struggling and remains at a risk of more losses below $30,000.

Bitcoin started a short-term recovery wave after it tested the $30,000 zone. The price is now trading below $31,500 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $31,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might resume decline if it stays below the $32,400 resistance zone. Bitcoin Price Faces Hurdles

Bitcoin price extended downsides below the $32,000 level. BTC even tested the $30,000 support zone and traded as low as $29,755.

Trending: State Farm Donating Transgender Books for Kindergarteners to Schools in Florida, Whistleblower Reveals

Recently, there was an upside correction above the $31,000 level. The

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