Bitcoin’s price rally slowed down after getting rejected at the 200-day moving average line amid the $48K range.
The 1-Day Timeframe
Technical Analysis by Edris
The price dropped lower since the MA200 rejection and is currently retesting the 50-day and 100-day moving average lines. These MAs have also printed a bullish cross recently, as the 50-day MA has crossed above the 100-day MA.
The $42K level is currently holding the price, is also a significant horizontal support level. This level was a resistance turned into support after a bullish breakout a few weeks ago.
However, if this area fails to hold the price, a retest of the $36K zone would be a likely scenario.
On the other hand, if the price rebounds from this support level, the $48K zone and the 200-day moving average would be likely retested.
The 4-Hour Timeframe
On the 4-hour timeframe, it is evident that after the price has reached the top of the large bearish flag pattern, it has been rejected to the downside and made a lo
We współpracy z: https://cryptopotato.com/bitcoin-price-analysis-btc-rebounded-at-key-support-is-the-bottom-in/
