Bitcoin’s Recovery Running Into Key Resistance

Bitcoin is @ $8350 at the moment

“Bitcoin’s bounce from Monday’s three-month low of $7,715 is struggling to beat the 200-day moving average resistance, currently at $8,440.
The recovery rally lacks volume support and could be short lived. A rising wedge breakdown seen on the hourly chart favors a drop to levels below $8,000.
A close above Monday’s high of $8,368 is needed to weaken bearish pressures. A bullish close, if confirmed, could yield a break above $9,000.”

Master Asked on October 1, 2019 in Bitcoin.
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