- Bitcoin price recovers to trade above $43,000 after yesterday’s market decline.
- China’s latest crypto ban wipes out $188 billion in crypto market value.
- Bitcoin price prediction is bearish as shown by the MACD and the Parabolic SAR.
Today Bitcoin is consolidating above $43,000 following yesterday’s cryptocurrency marker bloodbath once again triggered by China. On Friday, BTC/USD price dropped as much as 9.80% from $45,256 at opening of the day to record lows of around $40,747. The big crypto has managed to recover part of these losses.
At the time of writing, Bitcoin is exchanging hands around $43,141 on
On the upside, a closure above the immediate resstance around $43,600 would push the Bitcoin (BTC) price to tag the $45,00 level. A clear bullish breakout will be seen if the belwether cryptocurrency rises above the 200-day around $45,972.
If this happens, Bitcoin could easily tag the 50-day SMA around $47,360 or the $50,000 psychological level.
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