BTCUSD (Bitcoin / USD) – Reclaiming 10/20-Day Moving Average Is a First Sign Of Strength
Bitcoin (BTCUSD +7.52%) rebounded from $18,900 support level reclaiming posture above its 10/20-day moving average. It is worth to note that BTCUSD is now trading beneath its declining 50-day moving average.
The level of support to watch for BTCUSD this week remains at $18,900, a immediate support before reaching its year till date low $17,590.
Bull Case: Reclaim above its existing 50-day moving averages at $22,000.
Bear Case: Breakdown of $18,900, a immediate support before reaching its year till date low $17,590.