Bitcoin price started a recovery wave above the $26,250 resistance. BTC could gain bullish momentum if there is a close above the $27,000 resistance.
- Bitcoin is slowly moving higher above the $26,250 support zone.
- The price is trading above $26,250 and the 100 hourly Simple moving average.
- There is a connecting bullish trend line forming with support near $26,250 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could continue to rise if it clears the $27,000 resistance.
Bitcoin Price Recovers
Bitcoin price remained well-bid above the $25,800 level. BTC formed a base and started a recovery wave above the $26,050 level. The bulls were able to push the price above the $26,250 level.
There was also a break above the $26,500 resistance. Finally, the price tested the $26,780 zone. A high is formed near $26,779 and the price is now consolidating gains. It is trading just below the 23.6% Fib retracement level of the recent wave from the $25,360 swing low to the $26,779 high.Bitcoin is trading above $26,250 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support near $26,250 on the hourly chart of the BTC/USD pair.
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