Bitcoin Price Dips On The Christmas Day But Dips Still Attractive

Bitcoin Price Dips On The Christmas Day But Dips Still Attractive

Bitcoin price failed to extend gains above the $44,300 resistance. BTC is now moving lower and might find bids near the $42,400 support zone.


  • Bitcoin started a downside correction from the $44,300 resistance zone.

  • The price is trading below $43,500 and the 100 hourly Simple moving average.

  • There is a key declining channel forming with support near $42,850 on the hourly chart of the BTC/USD pair (data feed from Kraken).

  • The pair could start a fresh increase from the $42,400 support zone.

  • Bitcoin Price Tops Again


    Bitcoin price attempted a fresh increase above the $43,500 resistance zone. BTC climbed above the $44,000 level, but the bears were active near the $44,300 zone.


    A high was formed near $44,300 and the price started a fresh decline. The price declined below the $44,000 and $43,500 levels. There was a move below the 23.6% Fib retracement level of the upward move from the $40,515 swing low to the $44,300 high.


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