Bitcoin faces 'ton' of resistance after daily BTC price gains pass 5%

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Bitcoin surprises with a BTC price comeback above $26,000.

showed the largest cryptocurrency holding the majority of its 24-hour gains, which at one point totaled 5.5%.as an important line in the sand for Bitcoin bulls to reclaim.X subscribers in one of several posts on the day., hoping for a trip to $28,000 as the ultimate outcome on shorter timeframes, with another “sweep” of the range lows first.

Material Indicators had successfully forecast the latest upside, and Alan continued to underscore the significance of $24,750 holding as support. “There is a ton of technical resistance overhead starting with the 21-Day MA, a #DeathCross between the 50-Day and 200-Day MAs, and ultimately, the 100-Day MA which has confluence with the range high,” part of his latest commentary“$24,750 remains the critical level to hold to keep this rally alive. Focus on how PA interacts with those levels if/when they are approached.”Alan added that the longer-term picture remained the same.

 

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