{"id":367785,"date":"2019-01-10T07:00:11","date_gmt":"2019-01-10T07:00:11","guid":{"rendered":"https:\/\/uniquehot.com\/?p=367785"},"modified":"2024-06-11T12:57:09","modified_gmt":"2024-06-11T12:57:09","slug":"bitcoin-price-watch-btc-likely-preparing-for-bullish-ride","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-watch-btc-likely-preparing-for-bullish-ride\/","title":{"rendered":"Bitcoin Price Watch: BTC Likely Preparing For Bullish Ride"},"content":{"rendered":"
Bitcoin price is gaining bullish momentum above $4,000 against the US Dollar. BTC remains supported on dips and it may soon climb above the $4,150 and $4,200 resistances.<\/em><\/p>\n Yesterday, we discussed the key support at $3,940<\/a> for bitcoin price against the US Dollar. The BTC\/USD pair stayed above the mentioned support and it slowly moved above $3,965 and $3,980. Buyers pushed the price above the $4,000 level. There was a break above the 23.6% Fib retracement level of the last drop from the $4,114 swing high to $3,965 swing low. It opened the doors for more gains above $4,050 and the price is now well above the 100 hourly simple moving average.<\/p>\n An initial resistance is near the $4,040 level. It represents the 50% Fib retracement level of the last drop from the $4,114 swing high to $3,965 swing low. More importantly, there is a short term triangle forming with resistance at $4,045 on the hourly chart of the BTC\/USD pair. Therefore, a break above the triangle and $4,050 may open the doors for more gains in the near term. The next resistance is at $4,085, above which the price may climb<\/a> towards the $4,150 and $4,200 levels. An intermediate resistance is the 1.236 Fib extension level of the last drop near $4,140.<\/p>\n <\/p>\nBitcoin Price Analysis<\/h2>\n