Bitcoin Bounces on Crucial Moving Average Yet Again

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In Brief
  • The Bitcoin price is trading inside the $9,250 support area and the 50-day MA.

  • The price is possibly following an ascending support line.

  • There is long-term resistance at $10,300.

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The Bitcoin price decreased considerably on June 24, creating a bearish engulfing candlestick and erasing almost all of the gains made from the June 22 breakout. However, the price is still trading inside a strong support area backed by the 50-day moving average (MA). Current Bitcoin Support The main support for Bitcoin is found at $9,250, slightly above the current price. The area has
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Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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