* Our Parent Company Crypto Token is LIVE!!! *Flag Token

Bitcoin Price Close Above 100 SMA Could Spark A Fresh Surge: Here’s Why

Date:

Share post:

Bitcoin price started a downside correction below $20,500 against the US Dollar. BTC could start a fresh surge if it clears the 100 hourly SMA and then $21,000.

  • Bitcoin is recovering losses from the $20,250 support zone.
  • The price is trading below $20,700 and the 100 hourly simple moving average.
  • There is a major bearish trend line forming with resistance near $20,680 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could start another upward move if it clears the 100 hourly SMA and then $21,000.

Bitcoin Price Remains Supported

Bitcoin price started a downside correction after it failed to surpass the $21,000 resistance zone. BTC corrected lower below the $20,600 and $20,500 levels.

The decline gained pace below the $20,500 level and the 100 hourly simple moving average. However, the bulls were active near the $20,250 level. A low was formed near $20,250 and the price started a steady upward move. There was a wave above the $20,400 and $20,500 levels.

Bitcoin price climbed above the 23.6% Fib retracement level of the…

Read more…

Related articles

MicroCloud Hologram Develops Blockchain NFT Technology to Help Protect Data – Marketscreener.com

MicroCloud Hologram Develops Blockchain NFT Technology to Help Protect Data  Marketscreener.com Read more...

Introducing Liza Landsman as Stash CEO

The e-commerce innovator, powerhouse operator, and elite venture investor was handpicked for the top spot by co-founders Brandon...

Why are Bitcoin and crypto pumping after the Fed meeting? Watch Market Talks live

In this week’s episode of Market Talks, Cointelegraph welcomes Budd White, chief product officer and co-founder of Tacen —...