Bitcoin Price Corrects Some Gains: A Pause Before the Next Move?
Bitcoin price extended gains above the $69,200 resistance zone. BTC is now correcting gains and trading near the $67,500 pivot level. Bitcoin struggled to test
Bitcoin price extended gains above the $69,200 resistance zone. BTC is now correcting gains and trading near the $67,500 pivot level.
Bitcoin struggled to test the $70,000 resistance zone and corrected some gains.
The price is trading below $68,500 and the 100 hourly Simple moving average.
There was a break below key contracting triangle with support at $68,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could start a fresh increase unless there is a close below the $66,500 zone.
Bitcoin Price Dips To Support
Bitcoin price remained supported above the $66,500 zone. BTC started another minor increase above the $68,500 resistance zone. The bulls were able to clear the $69,200 barrier.
However, there was no test of the $70,000 resistance zone. A high was formed near $69,428 and the price is now correcting gains. There was a minor decline below the $68,000 level. There was a break below key contracting triangle with support at $68,500 on the hourly chart of the BTC/…
