Bitcoin is recovering losses and trading above $43,000 against the US Dollar. BTC must clear $43,800 to continue higher in the near term. Bitcoin found support near $41,600 and started a fresh upward move. The price is trading above $43,000 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $42,250 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to rise if there is a clear move above the $43,800 resistance. Bitcoin Price Starts Recovery Bitcoin price extended decline below the $42,000 support zone. However, BTC found support above the $41,500 zone. A low was formed near $41,573 and the price started a decent recovery wave. There was a break above the $42,000 and $42,500 resistance levels. The price climbed above the 23.6% Fib retracement level of the key decline from the $45,900 high to $41,570 low. Besides, there was a break above a key bearish trend line with resistance near $42,250 on the hourly chart of the BTC/USD pair. Bitcoin is now trading above $43,000 and the 100 hourly simple moving average. It even broke the $43,500 resistance zone. However, the bulls are now facing resistance near the $43,800 zone. Source: BTCUSD on TradingView.com The 50% Fib retracement level of the key decline from the $45,900 high to $41,570 low is also near the $43,800 zone. A clear move above the $43,800 resistance zone might send the price ...
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