Bitcoin is struggling to recover above $21,500 against the US Dollar. BTC is consolidating and remains at a risk of a move towards the $20,000 support.
Bitcoin Price Faces Hurdles
Bitcoin price remained well bid above the $21,000 support zone. BTC formed a base above $21,000 and started a consolidation phase.
There was a minor upward move above the $21,250 and $21,350 levels. The price was able to surpass the $21,500 level and the 100 hourly simple moving average. However, the bears were active near the $21,640 resistance zone.
It seems like the 23.6% Fib retracement level of the main drop from the $24,415 swing high to $20,797 low is ..
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