Bitcoin price is attempting a recovery wave from the $16,000 support zone. BTC could start a decent increase if it clears the $17,000 and $17,200 resistance levels in the short term.
Bitcoin is slowly moving higher and consolidating above the $16,500 level.
The price is trading above $16,500 and the 100 hourly simple moving average.
There is a connecting bearish trend line forming with resistance near $16,900 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could start a recovery wave if it clears the $17,000 resistance zone.
Bitcoin Price Consolidates
Bitcoin price remained stable above the $16,000 support zone. BTC formed a base and slowly moved higher above the $16,350 resistance zone.
There was a move above the 23.6% Fib retracement level of the downward move from the $18,155 swing high to $15,833 low. The bulls were able to contain losses and the price started to move in a range above the $16,400 level.
Bitcoin price is now trading above $16,500 and the 10
We współpracy z: https://www.newsbtc.com/analysis/btc/bitcoin-price-stuck-below-17k/
