According to the analysis, Bitcoin is currently correcting lower from the $28,800 resistance zone and may gain bearish momentum if there is a clear move below the $27,500 support. The price is currently trading below $28,500 and the 100 hourly simple moving average. A key bearish trend line is forming with resistance near $28,100 on the hourly chart of the BTC/USD pair. However, if the price manages to clear the $28,100 resistance, it might pump towards the $29,200 resistance and even test the $30,000 resistance zone. On the downside, a break below the $27,500 support might spark a fresh decline towards the $27,000 level. (newsbtc)
All Comments