Bitcoin price is on the verge of breaking out to $44,000 if the 200 SMA resistance shatters.
BTC erases the Amazon-triggered losses to trade around $40,000.
Bitcoin price remarkably bounced back following a correction on Tuesday. The retreat from $40,000 to $36,000 occurred barely 24 hours after the bellwether cryptocurrency had rallied from levels around $34,000.
Initially, a report by City A.M said that Amazon was in the process of integrating Bitcoin as a form of payment on the global retail platform. The media cited an unnamed insider who said that the process was almost complete. Moreover, Amazon intended to add other cryptocurrencies like Ethereum and Bitcoin.
However, the retail behemoth released a statement on Tuesday denying any such report. This news sent Bitcoin into a tailspin, where it tested support at $36,000. Other cryptocurrencies bled too, with Ethereum diving toward $2,100 and Ripple retesting support at $0.62.
Bitcoin Price Poised For A Run-up To $44,000
The flags
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