The recent increase touched the $4200 price resistance. The failed attempt to break up had led to a violent reaction as the crypto currency lost $500 in one day. The nearest support is not far - around $ 3600. If the support breaks down, the chances are that the rally from the past week will be forgotten and we will see another attempt to test of the annual support area around $3000.
A positive sign came from the 50-day moving average that recently crossed over the 200-day moving average line; this has not happened since Bitcoin was $6300. Also to mention is that support is being built around the 200 days moving average.
A positive sign came from the 50-day moving average that recently crossed over the 200-day moving average line; this has not happened since Bitcoin was $6300. Also to mention is that support is being built around the 200 days moving average.