{"id":380375,"date":"2019-05-01T06:30:06","date_gmt":"2019-05-01T06:30:06","guid":{"rendered":"https:\/\/uniquehot.com\/?p=380375"},"modified":"2024-06-11T12:49:46","modified_gmt":"2024-06-11T12:49:46","slug":"bitcoin-btc-price-bullish-continuation-5400","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-btc-price-bullish-continuation-5400\/","title":{"rendered":"Bitcoin (BTC) Price Signaling Bullish Continuation Above $5,400"},"content":{"rendered":"
Bitcoin price finally gained traction above $5,200 and $5,300 against the US Dollar. BTC price is back in a bullish zone and it could even surpass the $5,400 resistance level in the near term.<\/em><\/p>\n Yesterday, we saw tight range moves in bitcoin price below the $5,160 resistance against the US Dollar. The BTC\/USD pair struggled to clear the $5,160 and $5,200 resistance levels on many occasions. However, the bulls had the upper hand<\/a> as they succeeded in pushing the price above the $5,160 and $5,200 resistance levels. There was a break above the 50% Fib retracement level of the decline from the $5,510 high to $4,905 low.<\/p>\n More importantly, yesterday\u2019s discussed key bearish trend line was breached near $5,150 on the hourly chart of the BTC\/USD pair. The pair even cleared the crucial triangle resistance near the $5,140 level. It opened the doors for more gains above the $5,250 resistance and the 100 hourly simple moving average. The bulls pushed the price above the $5,300 level and a new weekly high was formed near the $5,343 level. At the moment, the price is consolidating gains above $5,300. An initial support is at $5,280 and the 23.6% Fib retracement level of the recent wave from the $5,067 low to $5,343 high.<\/p>\n If there is a downside correction below the $5,280 level, the price could test the $5,200 support area. It coincides with the 50% Fib retracement level of the recent wave from the $5,067 low to $5,343 high. The main support is near the $5,160 level and the 100 hourly simple moving average<\/a>. On the upside, an initial resistance is near the $5,380 level. A clear break above the $5,380 resistance will most likely call for more gains above $5,400.<\/p>\n <\/p>\nBitcoin Price Analysis<\/h2>\n