🔥 Bitcoin Recovers - But Will It Overcome the Obstacles?
Bitcoin is trying to recover from the $112,500 level. Bitcoin has returned above $114,000, but it faces several obstacles to reach $120,000.
Bitcoin started to recover above the $113,500 level.
The price is below $115,000 and its simple moving average over 100 hours.
The hourly chart for the Bitcoin/US Dollar pair shows a negative trend line with resistance at $114,800.
If it breaks the $115,000 barrier, the pair may rise again.
Bitcoin Price Support
Bitcoin has dropped again after closing below $115,500. Bitcoin fell below $113,500.
It is below the support area at $113,000 and its simple moving average over 100 hours. They tried to reach the $112,500 level. After falling below $112,400, the price is trying to bounce back to the 23.6% Fibonacci retracement level, which is the recent low from the swing high at $124,420.
Bitcoin's price dropped below $115,000 and its simple moving average for 100 hours. Approaching $114,800 is an immediate upward barrier. The hourly chart for the Bitcoin/US Dollar pair shows a negative trend line with resistance at $114,800.
Please follow up