RATE Group | Bitcoin (BTC) Shows Signs of Important Reversal To $8K
70170
post-template-default,single,single-post,postid-70170,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Bitcoin (BTC) Shows Signs of Important Reversal To $8K

28 Nov Bitcoin (BTC) Shows Signs of Important Reversal To $8K

Posted at 06:13h in Bitcoin News by

[ad_1]

  • Bitcoin price is recovering and it recently broke the main $7,375 and $7,400 resistances against the US Dollar.
  • The price is likely to start a strong rise to $8,000 once it clears the $7,700 resistance.
  • There is a short term contracting triangle forming with resistance near $7,540 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The recent rise was triggered after the price surpassed yesterday’s bullish flag resistance at $7,100.

Bitcoin price is slowly moving into a positive zone against the US Dollar. BTC seems to be aiming a test of the $8,000 resistance level in the coming days.

Bitcoin Price Analysis

Yesterday, we saw a nice recovery wave in bitcoin above the $7,200 resistance against the US Dollar. However, BTC price struggled to climb above the $7,375 and $7,400 resistance levels.

Later, there was a minor downside correction, but the price remains well bid above the $7,000 level. As a result, there was a fresh increase above the $7,200 resistance.

Moreover, the…

[ad_2]

Source link

Tags:
, , , , , ,