During the past week, BTC had developed a strong support base of around $19K besides being traded below the crucial psychological mark of $20K on multiple occasions. The weekly high was registered at around $22.5K testing the resistance present at 0.236FIB level.
With the recorded CMP at $20,560, MA-10 is looking at the potential to have a positive crossover against MA-5 which can result in more positive momentum if happened. The MACD level are supporting the hypothesis as the level had crossed above the histogram for the first time since the last month.
Overall, BTC had developed support levels at $20K and $18K. The hurdles currently faced by the bulls are around $23K and $25K respectively.
With the recorded CMP at $20,560, MA-10 is looking at the potential to have a positive crossover against MA-5 which can result in more positive momentum if happened. The MACD level are supporting the hypothesis as the level had crossed above the histogram for the first time since the last month.
Overall, BTC had developed support levels at $20K and $18K. The hurdles currently faced by the bulls are around $23K and $25K respectively.