Bitcoin Price Soars 15% to $7.2K But Breaking $8K Won’t Be Easy
Source: Tradingview
Bitcoin closed the month of March with a bearish candle close below the previous support at the 20-month moving average, which represented the first close below $6,500 in 11 months. Source: Tradingview
The weekly Bitcoin chart shows that the price currently trading up against previous support, now turned resistance at around $6,800.
The 20-week and 100-week averages are likely to be a formidable resistance point for Bitcoin as they have historically been very important support and resistance areas that dictate the bullish or bearish nature of the market. Source: Tradingview
The 4-hour Bitcoin price chart shows a series of higher lows for BTC/USD and helps to illustrate the demand at the 200-week moving average and below, both of which are being front-run.
BTC |
$ 64279.81
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