TA: Bitcoin Dives Below $40K, Why BTC Could Recover In Short-Term
Bitcoin gained bearish momentum and even declined below $40,000 against the US Dollar. BTC could recover if it manages to climb above the $40,000 pivot level. Bitcoin remained in a bearish zone and extended decline below $40,000. The price is now trading below $40,000 and the 100 hourly simple moving average. There is a steep bearish trend line forming with resistance near $39,700 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a short-term recovery if there is a move above $40,000. Bitcoin Price Gains Bearish Pace Bitcoin price struggled to recover....
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