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Bitcoin Price Recovery Remains Capped, Why 100 SMA Is The Key

Bitcoin price started an upside correction from $15,500. BTC is now facing a strong resistance near the $16,300 zone and the 100 hourly SMA. A low was formed near $15,470 and the price started an upside correction. There was a move above the $15,800 and $16,000 resistance levels. The bulls were able to push the price above the 50% Fib retracement level of the key decline from the $16,795 swing high to $15,470 low. (newsbtc)


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