On the 4-hour chart, Bitcoin price is hovering below the 9-day and 21-day moving averages. The coin touched support at $42,002 as the market prepared to trade sideways. However, if the coin breaks below the lower bound of the channel, BTC/USD could follow a bearish move. Therefore, key support levels are likely to be found at $40,000 and below.
Furthermore, if the price rebounds above the 9-day and 21-day moving averages and moves upwards, Bitcoin price could reach resistance at $44,000 and above. Now, with the technical indicator Relative Strength Index (14) breaking above the 50 level, Bitcoin is likely to experience a slightly bullish move.
BTCUSD
Furthermore, if the price rebounds above the 9-day and 21-day moving averages and moves upwards, Bitcoin price could reach resistance at $44,000 and above. Now, with the technical indicator Relative Strength Index (14) breaking above the 50 level, Bitcoin is likely to experience a slightly bullish move.
BTCUSD