🔥🔥🔥 #BitcoinTrading in Bullish Ascending Triangle, Testing Key Resistance
Bitcoin Holds Above Support, Faces 100-Day Resistance
- Bitcoin's price is currently hovering just above a crucial ascending trendline, which has consistently provided support. If Bitcoin touches this trendline and subsequently moves upwards, it would indicate strong support and the potential for a price increase.
- However, Bitcoin also faces significant resistance at the 100-day moving average, a key level monitored by many traders. Breaking through this barrier could signal a bullish movement.
Bitcoin’s Price Drop Below Trendline May Signal Correction
- Conversely, if Bitcoin's price falls below the upward trendline, it could trigger a market correction. This would suggest a shift from a bullish to a bearish trend, indicating that the support level is insufficient and the price might decline further.
In summary, Bitcoin's future remains uncertain, and it is currently at a critical juncture. Traders are closely watching the ascending trendline and the 100-day moving average as key indicators. The coming days could be decisive for Bitcoin's price direction.
Source - blockchainreporter.ne
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