Bitcoin a little lower on the day, tests trendline support

Author: Justin Low | Category: Cryptocurrency

Bitcoin is down by just over 2% so far in trading today


Price is trading off session lows, as sellers are now running into support levels for Bitcoin. The hourly chart from Coinbase shows that the trendline support from 6 February is now being tested.

For buyers, as long as price action does not see it fall below the 100 and/or the 200-hour MAs, that would provide a good platform for the next leg higher.

And in terms of resistance levels, the next one to look out for is the $9,080 level from 2 February. The upside move on 10 February also stalled at that level previously, so that will be a key level for buyers to attempt to take out.

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