Bitcoin Price Stays in Red, Can Bulls Regain Lost Ground Soon?
Bitcoin price is attempting to recover from $112,000. BTC is back above $113,200 but faces many hurdles on the way up to $118,000. Bitcoin started a recovery wave above the $112,500 zone. The price is trading below $115,000 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance at $113,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might start another increase if it clears the $115,000 resistance zone. Bitcoin Price Faces Resistance Bitcoin price started a fresh decline after a close below the $115,000 level. BTC....
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Bitcoin is on course to end this week on a bearish note, losing roughly 5% from its previous weekly close of $442. The cryptocurrency failed to cross the resistance posed by the peaks of the past couple of weeks and faltered. Post the sell-off, bitcoin is trading at $419.69. The sell-off occurred yesterday as market participants got tired of the extended consolidation and booked profits. The weekend weakness will make it tough for bitcoin to regain lost ground very soon. It may even witness further price depreciation as it has violated the support lent the low of the last week i.e.....