BTC/USD pierces support levels

Source: Dukascopy Bank SA


During the late part of 2022, the price for Bitcoin pierced the support zone at 17,600.00/18,735.00 and the 2020 November low levels. However, support was found in the 15,515.00/15,660.00 range. Afterwards, the pair retraced above 18,000.00 and found resistance.

During the holiday period, the crypto traded between one of the November low levels at 16,450.00 and the resistance of the 50-day simple moving average.

In regards to the near term future, the price could once again test the resistance of the 17,600.00/18,735.00 zone, before approaching the 19,000.00 and 20,000.00 levels. In addition, the 200-day SAM might slow down a surge near 19,650.00.

On the other hand, a decline of the cryptocurrency is bound to look for support at 16,450.00 and 16,000.00. Afterwards, the 15,515.00/15,660.00 range is once again expected to act as support.
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