Bitcoin (BTC) Price Weekly Analysis: Can Buyers Keep The Rally Going?

  • Bitcoin price rallied recently after it broke the key $3,900 resistance area against the US Dollar.
  • The price surged higher and broke the $3,950 and $4,000 hurdles to set the pace for more gains.
  • There is a major connecting bullish trend line formed with support at $3,900 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
  • The pair is currently correcting lower, but it is likely to find support near $3,920 or $3,900.

Bitcoin price climbed sharply into a bullish zone above $3,900 against the US Dollar. BTC/USD is placed nicely in an uptrend and dips close to $3,920 remain supported for a fresh bullish wave.

Bitcoin Price Analysis

This past week, there were a couple of bearish reactions below the $3,850 level in bitcoin price against the US Dollar. The BTC/USD pair spiked towards the $3,800 level on two occasions, but buyers protected additional losses. Finally, the price started a nice bullish wave and broke the $3,850 and $3,900 resistance levels. It opened the…

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2019-03-17 06:00:26

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