Bitcoin Price Restarts Increase But This Resistance Is The Key

May 15, 2023 04:00 am Cryptocurrency 86

Bitcoin price is recovering higher above the $27,000 resistance. BTC must clear the $27,800 resistance to start a decent increase in the near term.

Bitcoin tested the $26,000 support zone and is currently recovering higher.

The price is trading above $26,500 and the 100 hourly Simple moving average.

There was a break above a major bearish trend line with resistance near $27,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair could continue to move higher if it clears the $27,500 and $27,800 resistance levels.

Bitcoin Price Starts Recovery

Bitcoin price extended its decline below the $27,000 support zone. BTC even moved below the $26,200 level before the bulls appeared.

A low was formed near $25,851 and the price is now correcting losses. There was a decent increase above the $26,500 resistance level. There was a break above a major bearish trend line with resistance near $27,000 on the hourly chart ..

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