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CryptoTough

BTC Resistance at the 20-Day Moving Average and 9500

Long
Bitcoin (COINBASE:BTCUSD)  
CryptoTough  
COINBASE:BTCUSD   Bitcoin
Trend Analysis Chart Patterns Technical Indicators BTCUSD
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trendanalysis chartpattern indicator btcusd
BTC has been bouncing nicely off support. Look for resistance at the downtrending 20-day moving average and the level of congestion from November near 9500. This bounce could be a short-term bottom with a V-pattern recovery. However, it would be much better for BTC to return to previous support for confirmation and then bounce again to resume a bullish uptrend. The same scenario applies to several of the altcoins that have been bouncing as well.
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