Bitcoin price started a fresh decline and tested the $103,200 zone. BTC is now recovering and facing hurdles near the $107,000 zone.
Bitcoin started a recovery wave above the $105,000 zone.
The price is trading above $105,000 and the 100 hourly Simple moving average.
There is a connecting bullish trend line forming with support at $104,050 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could start a fresh increase if it clears the $107,000 resistance zone.
Bitcoin Price Faces Hurdles
Bitcoin price started a fresh decline and traded below the $105,500 support zone. BTC even traded below the $105,500 level and tested the next support at $103,200.
A low was formed at $103,200 and the price is attempting a recovery wave. There was a move above the $104,500 level and the 23.6% Fib retracement level of the recent decline from the $110,500 swing high to the $103,200 low. The price even cleared the $105,000 resistance.
Bitcoin is now trading above $105
We współpracy z: https://www.newsbtc.com/analysis/btc/bitcoin-price-encounters-resistance-107k/
