Bitcoin Price Prediction: Bitcoin creates strong support in the psychological area around creating a Double Bottom, Bulls should Stay Away From The Market

Near $38,200, Bitcoin is encountering resistance against the US dollar. Unless it moves above the $39,000 barrier mark, BTC is still vulnerable to more losses. Near the $38,200 and $39,000 levels, BITCOIN is meeting substantial resistance.

Price is currently trading below the 100 hourly simple moving average and $38,500. A significant negative trend line with resistance near $38,350 may be seen on the hourly chart of the BTC/USD pair.

To start a steady ascent, the pair needs to break through the $38,350 and $38,800 resistance levels.
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