{"id":376386,"date":"2019-03-29T06:30:19","date_gmt":"2019-03-29T06:30:19","guid":{"rendered":"https:\/\/uniquehot.com\/?p=376386"},"modified":"2024-06-11T13:39:04","modified_gmt":"2024-06-11T13:39:04","slug":"bitcoin-btc-price-could-rally-significantly-above-4050","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-btc-price-could-rally-significantly-above-4050\/","title":{"rendered":"Bitcoin (BTC) Price Could Rally Significantly Above $4,050"},"content":{"rendered":"
Bitcoin price is currently flirting with a major resistance zone against the US Dollar. BTC could rally significantly once there is a break above the $4,050 monthly resistance.<\/em><\/p>\n Recently, we saw a decent upward move<\/a> above the $3,940 resistance in bitcoin price against the US Dollar. The BTC\/USD pair climbed above the $4,000 resistance and the 100 hourly simple moving average. Later, there were range moves above the $4,000 support level. Finally, there was an upside extension above the $4,020 resistance level. However, buyers faced a strong resistance near the $4,040 and $4,050 levels (previous swing highs). A fresh weekly high was formed at $4,048 and later the price corrected lower.<\/p>\n It moved below the $4,020 level and the 23.6% Fib retracement level of the recent upside from the $3,883 low to $4,048 high. On the downside, there is a strong support formed near the $4,000 level. There is also an expanding triangle formed with resistance near $4,050 on the hourly chart of the BTC\/USD pair. The triangle support is near the $3,990 level, below which the price may test the $3,980 support.<\/p>\n The next main support is at $3,965 and the 50% Fib retracement level of the recent upside<\/a> from the $3,883 low to $4,048 high. Therefore, dips towards the $4,000 and $3,980 levels are likely to find buyers. On the upside, the $4,040 and $4,050 levels are strong barriers. A successful hourly close above $4,050 is must for buyers to gain momentum. The next resistance is at $4,080, above which the price may test the $4,120 level.<\/p>\n <\/p>\nBitcoin Price Analysis<\/h2>\n