Bitcoin Price Analysis: BTC bulls reclaim 27,000 on the bounce off monthly support line
Bitcoin fades pullback from record high amid bullish MACD. Sustained U-turn from previous resistance keeps buyers hopeful. Short-term rising trend line, 200-bar SMA add to the downside filters.
BTC/USD takes the offers almost 27,200 during early Monday. The crypto major invigorated record highs while crossing the 28,000 imprint to 28,373 during the end of the week.
The combination from the untouched top neglected to slip underneath the prior obstruction line extended from November 30 during the week-start move. It ought to likewise be noticed that bullish MACD additionally favors the BTC/USD purchasers.
Thus, Bitcoin bulls are as of now focusing on the 28,000 round-figure prior to testing the most recent top encompassing 28,400.
For a situation where the RSI conditions neglect to stop the north-run past-28,400, the 30,000 mental magnet will get the BTC/USD potential gain.
Then again, a disadvantage break of the quick help line, close to 26,250, goes before an upward slanting pattern line from December 16, at present around 24,300, to test the pullback moves.
On the off chance that at all the BTC/USD breaks momentary help lines, 200-bar SMA close to 20,450 turns into the way to watch.
BTC/USD four-hour chart