TA: Bitcoin Tops Near $47K, Why The Bulls Must Defend $45K B | Crypto Experts Trading
TA: Bitcoin Tops Near $47K, Why The Bulls Must Defend $45K
Bitcoin struggled to gain momentum above $47,000 against the US Dollar. BTC started a fresh decline and dived to the $45,000 support zone.
Bitcoin reacted to the downside after it formed a short-term top near $47,000.
The price is trading below $46,000 and the 100 hourly simple moving average.
There is a key bearish trend line forming with resistance near $46,600 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair must stay above the $45,000 support to avoid more downsides in the near term.
Link - https://www.newsbtc.com/analysis/btc/bitcoin-tops-near-47k/
