JordonH

Bitcoin Struggling with MA/ Support

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin holding the support level

Unfortunately the 40 MA has moved above the current price and may begin acting as resistance.

I believe Bitcoin fails to hold the support level the next expected level is near the 17000 - 17200 level
This is a good buying zone and the most likely scenario

If the 17k level fails to hold we are looking to fall into the previous low area approaching sub 16k levels.
Any price lower than the 17000 area is a good buy IMO

Bitcoins long term trend remains bearish with the halving the the background and a strong 2021 market is expected with new highs

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