The post Bitcoin Making Every Effort to Maintain Bullish Structure-But What if it Breaks? appeared first on Coinpedia Fintech News
The start of the year indicated a decent recovery from the lows of the 2022 bear market below $16,000. The market participants were also sure that the crypto markets were entering the recovery phase. However, the bears soon checked in and a couple of regulatory crackdowns added fuel to the fire. Presently, the BTC price remains stuck around $26,000 as bulls lack the strength required to raise above the bearish influence.
The BTC price in the short term hovers within a very narrow range between $26,188 and $25,710. The price is trading just below the crucial resistance at the 200-D EMA and MA levels that may fuel bearish actions ahead. Moreover, the MACD is closer to flashing a buy signal as the lines may soon undergo a bullish crossover. This may raise the levels above the interim resistance, which may further lift the price beyond the symmetric triangle
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