Bitcoin struggled to gain pace above the $48,000 resistance against the US Dollar. BTC is correcting gains, but dips might be limited below $46,000.
Bitcoin Price Remains Supported
Bitcoin price extended increase above the $47,500 resistance zone. BTC even broke the $48,000 resistance zone and traded as high as $48,200.
Recently, there was a downside correction from the $48,200 high. The price declined below the 23.6% Fib retracement level of the upward move from the $44,468 swing low $48,200 high. However, it is still trading above the 100 hourly simple moving average.
There is also a key breakout pattern forming with support near $46,300 on the hourly chart of the BTC/USD pair. On ..
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