Traders say Bitcoin’s bullish bias will only be confirmed by a close above $44K By Cointelegraph


Traders say Bitcoin’s bullish bias will only be confirmed by a close above $44K

The fallout from China’s ongoing crackdown on the crypto sector has led to uncertainty finding its way back into the market again. At the time of writing, (BTC) traders continue to encounter pushback at the $43,000 level and many altcoins that had accumulated gains in the morning session are also dipping into the red.

Data from Cointelegraph Markets Pro and TradingView shows that an early morning attempt by bulls to push the price of BTC above $44,000 was met by firm resistance but the current back and forth appears to be nothing more than consolidation.

BTC/USDT 4-hour chart. Source: TradingView
4-hour chart. Source: Twitter (NYSE:)