BTC/USD trades above support zone

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Source: Dukascopy Bank SA


Since plummeting in early May, the price for BTC/USD has been trading above a support zone at 28,900.00/29.550.00.

If the price for the cryptocurrency recovers, it would face the resistance of the February 2022 low level zone at 33,170.00/34,470.00. Higher above, note the resistance of the 50-day simple moving average near 36,450.00 and the upper trend line of the 2022 channel down pattern.

Meanwhile, a decline below 33,170.00 might look for support in the resistance and support zone of the late 2020 trading at 21,925.00/24,350.00.
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