On the weekly chart, BTC established a higher price low relative to the June 2021 bottom of around $28,800. The latest cycle low was achieved this year on Jan. 24 at $33,100, indicating renewed buying strength. Further, momentum signals are on the verge of turning positive, which could support a short-term relief rally.
- Bitcoin Faces Initial Resistance at $46K; Support at $42K
Written by Bankerage Published on March 26, 2022