Bitcoin (BTC) Price Analysis: Showing Signs of Recovery, What Are The Key Levels?

Bitcoin (BTC) Price Analysis: Showing Signs of Recovery, What Are The Key Levels?

Bitcoin price dropped over 20% against the US Dollar yesterday. BTC is recovering at $ 30,000 and may attempt to rise above $ 40,000. According to the technical analysis of NewsBTC’s Aayush Jindal:
— Bitcoin dropped below the $ 40,000 and $ 35,000 support levels.

— The price is currently trading well below $ 42,000 and the 100 hourly simple moving average.

— There is a key bearish trend line with resistance around $ 39,000 on the hourly chart of the BTC / USD pair (based on Kraken data).

— If there is a break above $ 40,000, the pair is likely to start a strong bullish move.

Bitcoin (BTC) Price Begin To Recover

bitcoin btc price analysis shows signs of recovery what are the key levels
bitcoin btc price analysis shows signs of recovery what are the key levels

A successful break above the trendline resistance could set the pace for a strong move above the $ 40,000 resistance. The next major resistance is near the $ 42,000 level. A close above the $ 42,000 level could set the pace for a strong rise in the coming sessions. The next major resistance sits near the $ 46,000 level.

Will Bitcoin (BTC) Fall Again?

Bakkt para birimi kazanınlar da herkesin içinde yer alabilir. Bitcoin (BTC) kullanılabilir. Son dakikalarından küçüklerinden olmak için bizi