BTC Miners Balance Increases; ProShares Releases New ETF to Short BTC
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Chart of the Day
The broader crypto market consolidated its gains on Monday, with BTC continuing to fluctuate within a narrow range after stabilizing above the $20k key psychological support level and the 100-hour moving average. As of the time of writing, the largest crypto by market cap is trading slightly below the $21k handle with a 4% gain in the last 24 hours. A connecting bullish trend line with support near the $20.7k level is taking shape on BTC's hourly chart, while the immediate overhead resistance sits at the $21k region. A decisive break above this level will likely accelerate BTC's upside momentum. On the flip side, BTC may retest the $20k support level should it fail to clear the $21k resistance.