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

Is the Recovery Just Getting Started?

Date:

Share post:

Bitcoin price is slowly moving higher above the $16,750 resistance zone. BTC could gain bullish momentum if it settles above the $17,000 resistance zone.

  • Bitcoin is slowly gaining pace from the $16,350 and $16,000 support levels.
  • The price is trading above $16,500 and the 100 hourly simple moving average.
  • There was a break above a key bearish trend line with resistance near $16,600 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could start a steady increase if there is a close above the $17,000 resistance zone.

Bitcoin Price Starts Recovery

Bitcoin price corrected lower below the $16,600 and $16,500 levels. However, BTC remained well bid above the $16,350 support zone. A low was formed near $16,370 and the price started a slow recovery wave.

There was a move above the $16,500 and $16,600 resistance levels. The price cleared the 50% Fib retracement level of the recent decline from the $17,098 swing high to $16,370 low. Besides, there was a break above a key bearish trend line with resistance near $16,600 on the hourly chart of the BTC/USD…

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 —...