Bitcoin saw its price retrace after initially moving upwards and clearing the 
resistance at $80,000. Eventually, though, the price ended up hitting major 
resistance at $82,000 and falling back downward. Now, the Bitcoin price seems 
to be stuck in a sideways movement that threatens to be the end of the 
recovery. However, this might not be the end of the bullish trend that is 
being flagged on the chart. Why The Bitcoin Price Could Recover Quickly In a 
recent post, a pseudonymous crypto analyst who goes by HAMED_AZ highlighted 
three clear signals that could show that the bitcoin price is on the verge of 
a bullish reversal. The first of these is that the cryptocurrency has now 
entered a major demand zone. Related Reading: Bitcoin Enters Buy Zone That 
Previously Led To A 660% And 1,700% Rally This demand zone lies between 
$70,000 and $73,000, showing the levels where there has been the most support 
for the Bitcoin price in recent times. According to the crypto analyst, this 
demand zone has previously been a strong reaction zone and could continue in 
the same way. Next on the line is the ascending trendline that has appeared on 
the Bitcoin chart. This ascending trendline has held recently and has 
supported the uptrend previously. If this trend continues to hold, then it is 
likely that the Bitcoin price will continue to rise. Then, last but not least 
on the list is the fact that the 50% Fibonacci retracement. With the 0.5 
Fibonacci level sitting just around $71,302, it means that the BTC price has 
not fallen toward the general area of this level, creating alignment. Where Is 
The Price Headed? Following the analysis, the Bitcoin price could be looking 
at another upward recovery soon. However, just like before, there is still a 
lot of resistance lying in wait at the $82,000 level, meaning that this is the 
level to beat if bulls want to maintain the uptrend. Related Reading: Analyst 
Says This Dogecoin Chart Is Too Dangerous To Ignore – Here’s Why For the 
bearish case, the Bitcoin price would need to first break below the ascending 
trendline. This puts it below $71,000 at the current level, and if this 
happens, the crypto analyst says it would open the door for an even deeper 
correction for the cryptocurrency. Featured image from Dall.E, chart from 
TradingView.com

Bitcoin saw its price retrace after initially moving upwards and clearing the resistance at $80,000. Eventually, though, the price ended up hitting major resistance at $82,000 and falling back downward. Now, the Bitcoin price seems to be stuck in a sideways movement that threatens to be the end of the recovery. However, this might not &#8230;

The Bitcoin Retracement Rally And The Resistance Level That Could End It All

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B3, the Brazilian stock exchange, will develop a digital twin of its depository database in a blockchain in preparation for a potential inclusion of these into the traditional financial system. B3 also expects to launch B3RL, a Brazilian real stablecoin, later this year. B3 Takes First Steps to Tokenize Stocks B3, Brazil’s stock exchange, is &#8230;

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BestBuy.com and more than 200 stores across the United States, giving the 
hardware wallet maker its largest U.S. retail presence to date. According to a 
press release shared with crypto.news,…

Best Buy has begun offering Tangem&#8217;s crypto self-custody products through BestBuy.com and more than 200 stores across the United States, giving the hardware wallet maker its largest U.S. retail presence to date. According to a press release shared with crypto.news,…

The Bitcoin Retracement Rally And The Resistance Level That Could End It All

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