TA: Bitcoin Consolidates, Why BTC Could Start A Fresh Increase
Bitcoin price is holding the $48,000 support zone against the US Dollar. BTC must clear $49,500 and $49,750 to start a fresh increase in the near term. Bitcoin broke the $48,500 resistance, but it faced hurdles near $49,500. The price is now trading above $48,500 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $48,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh increase unless it clears the $48,000 support and the 100 hourly SMA. Bitcoin Price Holds Key Support Bitcoin price formed a....
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