Bitcoin price surged higher above $1800 against the US Dollar, and the current movement in BTC\/USD looks very bullish for more gains in the near term. <\/p>\n
Bitcoin price surged higher above $1800 against the US Dollar, and the current movement in BTC\/USD looks very bullish for more gains in the near term. <\/p>\n
It was a nasty week for Bitcoin price, as it continued to gain momentum above $1700 against the US Dollar. My view of continuing gains in BTC is playing well. Recently, the price traded close to the $1910 level from where a correction was initiated. The price traded below the 23.6% Fib retracement level of the last wave from the $1510 low to $1905 high. <\/p>\n
On the downside, a monster bullish trend line with support at $1660 on the 4-hours chart of BTC\/USD was waiting. It acted as a barrier for further declines below $1650 and pushed the price back higher. There was also a test of the 61.8% Fib retracement level of the last wave from the $1510 low to $1905 high. The price is now back above the $1800 level. It looks like a correction wave is over, and the price may soon retest the last swing high at $1905. <\/p>\n<\/p>\n
If all goes well, there is a chance of further gains above $1900. On the downside, we have two bullish trend lines at $1660 and $1610, which may continue to act as a support. The overall trend is bullish with a chance of BTC\/USD testing $2000. <\/p>\n
Looking at the technical indicators: <\/p>\n
4-hours MACD The MACD is currently gaining momentum in the bullish zone. <\/p>\n
4-hours RSI (Relative Strength Index) The RSI is now back above the 50 level and heading north. <\/p>\n
Major Support Level $1660 <\/p>\n
Major Resistance Level $1900 <\/p>\n<\/p>\n
Charts courtesy SimpleFX <\/p>\n
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View original post here: Bitcoin price surged higher above $1800 against the US Dollar, and the current movement in BTC\/USD looks very bullish for more gains in the near term. Bitcoin price surged higher above $1800 against the US Dollar, and the current movement in BTC\/USD looks very bullish for more gains in the near term. Continue reading
\nBitcoin Price Weekly Analysis BTC\/USD Eyeing $2000 - newsBTC<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"