Bitcoin Reaches Strong Technical Resistance as Price Spikes to Almost $43,000

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Bitcoin reached 50-day moving average, here's how it acted before

The last test of the 50-day moving average in the downtrend condition took place in July of 2021 and became a catalyst for Bitcoin reaching the local high of $52,000. The last"golden cross," on the other hand, took place in August close to the local top.

At press time, Bitcoin is trading at $42,783 and yet is failing to break the resistance due to the absence of strong buying volume on the market. According to historical data, each resistance break was followed by a volatility spike.Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.

 

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