- Posted by: Guillaume
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CRYPTO NEWS : Latest BITCOIN News, ETHEREUM News, DEFI News, eTOROX News
Bitcoin Consolidates Below $ 14k.
Bitcoin began a downward correction after forming a high around the $ 14,080 level.
The trendline is close to the 61.8% Fibonacci retracement level of the upward movement from the swing low of $ 13,430 to the high of $ 14,076. The 100-hour simple moving average also follows the trend line at $ 13,850.
As long as the bitcoin price is above the trendline support and the 100-hour SMA, it could start a new rally. On the other hand, initial resistance is around the $ 13,800 level. Major resistance is found around the $ 14,000 level.