Bitcoin Consolidates Losses, Why 100 SMA Holds Is The Key
Bitcoin price started a downside correction below $65,000 against the US Dollar. BTC must climb above the 100 hourly SMA and $66,500 to start a fresh increase. Bitcoin started a downside correction below the $66,000 and $65,000 levels. The price is now trading below $66,000 and the 100 hourly simple moving average. There is a key contracting triangle forming with resistance near $65,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh increase if there is a clear break above $66,000 and the 100 hourly SMA. Bitcoin Price Consolidates Below $66K....
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