After a brutal crash last weekend, the Bitcoin (BTC) price bounced back surging past $20,000. On Tuesday, as BTC attempted to march forward above $21,500, it faced resistance and has retraced since.
As of press time, Bitcoin is trading at $20,474 with a market cap of $390 billion. For Bitcoin to sustain the upward momentum, it has to reclaim its 200-week moving average of $22,500 and turn it into support.
#BTC would need to break above ~$22500 for a chance at reclaiming the 200-week MA as support$BTC #Crypto #Bitcoin pic.twitter.com/EV64baWFLw
— Rekt Capital (@rektcapital) June 21, 2022