Here’s Why 100 SMA Could Spark Fresh Bitcoin Rally In Near Term

Bitcoin failed to surpass the $7,000 resistance and declined below $6,500 against the US Dollar. BTC is likely to bounce back as long as it is above $6,000 and the 100 SMA (H4).Bitcoin price is currently correcting gains from the $7,000 resistance area.
The $6,000 region and the 100 simple moving average (4-hours) are important supports.
There was a break below a major bullish trend line with support at $6,620 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
The pair is currentl