Bitcoin Finally Breaks Out Above Crucial Resistance

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In Brief
  • The Bitcoin price is facing resistance from the 50-day MA.

  • The price has broken out from a descending wedge.

  • The next resistance areas are found at $9,450 and $9,700.

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On July 20, the Bitcoin (BTC) price decreased slightly. However, it kicked off today with a breakout above an important resistance level and moving average (MA). This could indicate that its consolidation period might be over. Bitcoin Consolidation Crawl The Bitcoin price had been consolidating below the $9,250 area, which has previously acted as support and resistance and was trading

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Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.

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