Bitcoin is still consolidating near the $20,000 zone against the US Dollar. BTC must clear the $20,550 resistance zone to start a steady increase.
Bitcoin Price Faces Hurdles
Bitcoin price remained well supported above the $19,550 zone. BTC formed a base and started a fresh upward move above the $20,000 resistance zone.
There was a push above the $20,200 level and the 100 hourly simple moving average. The price even cleared the 61.8% Fib retracement level of the downward move from the $20,576 swing high to $19,555 low. However, the price stayed below the $20,550 resistance zone.
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