Bitcoin Price Weekly Analysis – BTC/USD At Major Turning Point
Bitcoin price traded below 100 SMA (H4 chart) recently, which is acting as a resistance now. A break above it is needed for BTC/USD to gain momentum. Bitcoin price traded a few points higher this past week, but it struggled once again to break the $425-30 resistance area and started to move down. During the downside drift BTC/USD broke the 100 simple moving average (H4 chart), which can be considered as a crucial break. However, the price found support near a bullish trend line on the 4-hours chart (data feed from Bitstamp) of BTC to USD. There was a sharp reaction noted around the trend....
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