TA: Why Bitcoin Needs To Clear $42,500 For Hopes of a Fresh Rally

TA: Why Bitcoin Needs To Clear $42,500 For Hopes of a Fresh Rally

Bitcoin found support near the $41,200 zone against the US Dollar. BTC must clear $42,500 to start a recovery wave in the near term. Bitcoin extended decline and tested the $41,200 support zone. The price is still trading below $42,500 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $42,450 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a decent recovery if there is a clear move above the $42,500 resistance. Bitcoin Price Faces Hurdles Bitcoin price struggled to start a decent recovery wave....


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