Bitcoin BTC price action update and analysis

Hi everyone, hope everyone is fine and doing well. I am back again with today's blog covering Bitcoin price action. I hope my blog posts on Bitcoin price analysis have helped keeping you safe from these recent crash in cryptocurrencies prices as I had been constantly warning you about these possible price dumps beforehand in my posts. All I request from you is upvotes and resteems to help my blog grow, and to keep me motivated to keep updating you with BTC analysis regularly.

🔶 Bitcoin again bounced back after it successfully tested its support zone which is near $28,700 and now it reclaimed its position above $30k which is a good sign. This bounce shows that bulls are trying hard to keep the BTC price above this support level and not letting bears to pull the price down.

🔶 BTC is now holding above 100 M.A. This is a positive sign but BTC needs to break its major resistance area which is $30,500 to $30,800 with good volumes and needs to give a candle closing above this area to gain bullish momentum.

🔶 Some news in the market which can positively impact the Bitcoin price like the Central African Republic (CAR), the second country in the world to adopt Bitcoin plans to develop a hub to attract cryptocurrency businesses and enthusiasts to the nation.