Bitcoin is consolidating above the $20,000 zone against the US Dollar. BTC must clear the $20,800 resistance to restart increase in the near term.
Bitcoin corrected gains and tested the $19,800 support zone. The price is now above the $20,000 level and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $20,550 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if it clears the $20,550 and $20,800 resistance levels. Bitcoin Price Faces Resistance
Bitcoin price failed to gain pace above $21,700 and corrected gains. There was a downside correction below the $21,000 support zone.
The price declined below the 23.6% Fib retracement level of the upward move from the $17,600 swing low to $21,700 swing high. The bears even pushed the price below the $20,500 support zone and the 100