TA: Bitcoin Trims Gains, Why 100 SMA Could Trigger Fresh Increase

TA: Bitcoin Trims Gains, Why 100 SMA Could Trigger Fresh Increase


Bitcoin struggled above the $21,500 resistance zone against the US Dollar. BTC is trimming gains and might find support near the 100 hourly SMA.

Bitcoin climbed above the $21,500 level before it faced sellers. The price is now above the $20,000 level and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $21,175 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could find bids near the $20,000 zone or the 100 hourly simple moving average. Bitcoin Price Dips

Bitcoin price started an upside correction above the $20,000 resistance zone. There was a decent recovery wave above the $20,200 and $20,500 levels.

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The price climbed the 61.8% Fib

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