Bitcoin started a steady increase above the $42,000 resistance against the US Dollar. BTC tested the $43,400 zone and recently corrected lower.
Bitcoin Price Remains In Uptrend
Bitcoin price started a steady increase after it cleared the $42,000 resistance zone. BTC gained pace for a move above the $42,500 level and settled above the 100 hourly simple moving average.
The upward move was such that the price even broke the $43,200 resistance. It traded as high as $43,402 and is currently correcting lower. There was a move below the 23.6% Fib retracement level of the recent increase from the $40,510 swing low to $43,402 high.
However, the bulls are defending the $42,000 support ..
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