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Thursday

13 May 2021

Bitcoin Price Analysis: BTC Faces Major Hurdle, Dips Limited | Live Bitcoin News

Bitcoin Price Analysis: BTC Faces Major Hurdle, Dips Limited | Live Bitcoin News


smart summary beta

After a steady decline, bitcoin price found support near the $47,500 zone against the US Dollar.

There was a break below the $56,000 support zone and the 55 simple moving average (4-hours).

It is now facing a major resistance near the previous support at $56,000 and the 55 simple moving average (4-hours).

If there is an upside break above the $56,000 resistance zone, the price is likely to accelerate higher in the near term.

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