Bitcoin Price Just Saw Technical Correction But Key Uptrend Support Intact
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Bitcoin price started a downside correction below $23,000. BTC is testing an important support and might start a fresh increase towards $23,500. Bitcoin started a downside correction and declined below the $23,000 support zone. The price is trading below $23,000 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $22,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh increase if it stays above the $22,000 support zone. Bitcoin Price Tests Key Support Bitcoin price struggled to clear the $23,400 and $23,500
There will be a mass liquidation of short positions on bitcoin if it overcomes the current resistance. After an impressive rise of more than 40% in January, Bitcoin continues to consolidate in the $23,000 area. According to the cryptocurrency screener Cryptovizorwhich determines the market price of BTC/USD based on the…
Bitcoin price is again moving lower from the $27,500 resistance. BTC could extend its decline and revisit the $25,400 support zone. Bitcoin started a downside correction after it failed to clear the $27,500 resistance. The price is trading below $27,000 and the 100 hourly Simple moving average. There was a…