BTC/USD: Bulls try to stabilize price as crypto market bleeds
|- Bulls rally together to make sure BTC/USD’s value falls by <2% during the recent crypto price drop.
- Price is currently perched right on top of the $3,350 support which needs to be defended.
BTC/USD has remained relatively stable despite the recent price bleed having lost <2% of its overall value. The bulls have rallied together and kept the price relatively stable under pressure. The short term goals for the bulls is to defend the $3,350 support line.
BTC/USD daily chart
The BTC/USD market is currently lying on top of the $3,350 support line. The short term goals for bulls is to defend this line and to break past the downward trending line which has acted like market-resistance since January 10, 2019. The lack of movement in the moving average convergence/divergence shows how the bulls have kept the market stabilized despite bearish pressure.
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