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Bitcoin’s trendline from peak keeps pressure on token

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Bitcoin’s trendline from peak keeps pressure on token

Bitcoin continues to trade below a valid line of resistance drawn from the token’s record peak of $69,000 in November.

Axar.az reports that the small recovery in January saw a so-called “shooting star” candlestick occur right at the trendline barrier, which pushed prices down by 24% to as low as $32,970 last week. The rebound since has swung Bitcoin back to this trendline, and a break above it will bring into focus the next cluster of Fibonacci resistance which is near $40,000.

Date
2022.02.02 / 16:39
Author
Axar.az
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