Bitcoin (BTC) despite showing bearish signs against tether (USDT) as the price plunged to $18,500 recently, with many traders and investors sweating on their long open position. The price of Bitcoin (BTC) quickly bounced off from that region after forming a bullish divergence on the four-hour chart and has shown no intention of stopping. (Data from Binance) Related Reading: Cosmos Touches Highest Point Since May As ATOM Expands 25% Bitcoin (BTC) Price Analysis On The Weekly Chart The price of BTC has had a tough time maintaining the bullish momentum it has shown in recent weeks as the price was rejected from the $25,200 area acting supply zone for most sellers. BTC has struggled to trend higher after it saw its price drop from a rising wedge as this triggered most sell orders, leaving BTC’s price to retest its previous all-time high, leaving many worried as the price could go lower to $10,000. The price of BTC could face another scenario, but in this case, its trends are higher ahead of the weekly close. Haven bounced off pretty well from the last weekly low, and claiming the support at $20,700, BTC could be ready for a major run to $24,000-$25,000 if the weekly candle closes above $21,700. BTC’s price looks bullish ahead of the weekly close and could trend even higher as the market looks promising ahead of the new week. BTC has continued to respect the downtrend line acting as resistance for BTC price on the weekl...
Why is Bitcoin Cash Price up Today?
