Bitcoin Price Holds Strong At 100 SMA – A Strengthening Case For Upside
Bitcoin price is holding the $26,400 support zone. BTC could gain bullish momentum if there is a close above the $27,000 resistance zone....
- Bitcoin price is holding the $26,400 support zone.
- BTC could gain bullish momentum if there is a close above the $27,000 resistance zone.
- The price is trading above $26,500 and the 100 hourly Simple moving average.
- There is a connecting bullish trend line forming with support near $26,500 on the hourly chart of the BTC/USD pair.
- Immediate resistance on the upside is near the $26,700 level or the 61.8% Fib retracement level.
- A successful close above the $26,850 resistance and $27,200 could spark another bullish wave.
- If Bitcoin fails to start a fresh increase, it could react to the downside.
- Immediate support on the downside is near the $26,500 level and the trend line.
- The next major support is near the $26,200 level.
The sentiment of the article is mostly positive, as it discusses the potential for Bitcoin to gain bullish momentum and highlights support levels.