- Bitcoin price made a few swing moves above the $3,800 and $3,830 supports against the US Dollar.
- The price managed to settle above the $3,850 level and the 100 hourly simple moving average.
- This week’s major bearish trend line with resistance at $3,845 was breached on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair tested the $3,870 level and it is currently consolidating, with positive signs. newsbtc
BTC Chop Yesterday Stabilizing
Bitcoin BTC ANALYSIS We have a good ol' bull break into a bear break into back to where we started move yesterday pretty much faking out both bulls and bears while nothing changed. This is yet another of the endless examples highlighting my points about being an unfavorable trading market the last few months.
The bulls are trying to recover and test the highs of the bull move fake out, and in the end we do still have daily higher lows intact. $3,771 on coinbase is essentially a double bottom and the most important short term support level . the chart guy
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