{"id":378754,"date":"2019-04-17T06:30:58","date_gmt":"2019-04-17T06:30:58","guid":{"rendered":"https:\/\/uniquehot.com\/?p=378754"},"modified":"2024-06-11T12:52:32","modified_gmt":"2024-06-11T12:52:32","slug":"bitcoin-btc-trend-overwhelmingly-positive","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-btc-trend-overwhelmingly-positive\/","title":{"rendered":"Bitcoin (BTC) Trend Overwhelmingly Positive As Bulls Eye $5,400"},"content":{"rendered":"
Bitcoin price rebounded sharply above $5,200 against the US Dollar. BTC is back in a decent uptrend and it seems like it could climb towards the key $5,400 resistance area.<\/em><\/p>\n Yesterday, bitcoin price revisited the $4,940 support area<\/a> against the US Dollar. The BTC\/USD pair found a strong buying interest near $4,940 and later started a decent upward move. It seems like the price formed a double bottom pattern near $4,940, which is a positive sign. It broke the $5,100 resistance and the 100 hourly simple moving average to start a solid upward move. Besides, there was a break above the 50% Fib retracement level of the last drop from the $5,186 high to $4,943 low.<\/p>\n More importantly, yesterday\u2019s highlighted major bearish trend line was breached at $5,110 on the hourly chart of the BTC\/USD pair. Finally, there was a break above the key $5,150-5,160 resistance area (the previous support). It opened the doors for more gains and the price traded above $5,200 and $5,250. A new weekly high was formed at $5,275 and the price is currently consolidating gains. An initial support is near $5,200 and the 23.6% Fib retracement level of the recent wave from the $4,943 low to $5,275 high.<\/p>\n However, the main support is near the $5,150-5,160 area (the previous resistance<\/a>). Below $5,150, the price could test the $5,100 support area and the 100 hourly simple moving average. The 50% Fib retracement level of the recent wave from the $4,943 low to $5,275 high is also near the $5,109 level. Therefore, dips from the current levels remain well supported near $5,160 and $5,100.<\/p>\n <\/p>\nBitcoin Price Analysis<\/h2>\n