Bitcoin Price Watch: BTC Remains Sell Until It Breaks 100 SMA

Bitcoin price is slowly recovering and it is currently trading above the $3,750 support against the US Dollar. There was a break above a short term contracting triangle with resistance at $3,795 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to struggle near the $3,860 resistance and the 100 hourly simple moving average. Buyers could gain traction only if there is a close above $3,900 and the 100 hourly SMA in the near term.

Bitcoin price formed a...

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