Bitcoin (BTC) Price Hesitates But Further Gains Seem Likely

  • Bitcoin price formed a strong support near the $3,940 level and climbed higher against the US Dollar.
  • The price managed to clear the $3,965 and $3,980 resistance levels to move into a positive zone.
  • Yesterday’s highlighted key bearish trend line was breached with resistance at $3,970 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The current price action is positive, but buyers need to gain strength above the $4,000 resistance.

Bitcoin price started a slow and steady rise against the US Dollar. BTC is showing positive signs and it seems like there could be an upside extension above the $4,000 and $4,040 levels.

Bitcoin Price Analysis

Recently, we saw a downside correction in bitcoin price below the $4,000 support against the US Dollar. The BTC/USD pair declined below the $3,980 and $3,960 levels. However, the $3,940 level acted as a strong support along with the 100 hourly simple moving average. Later, a solid support base was formed above $3,940 and the price…

Read Full Story : NewsBTC

2019-03-20 06:30:01

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