{"id":448927,"date":"2020-11-05T03:48:24","date_gmt":"2020-11-05T03:48:24","guid":{"rendered":"https:\/\/uniquehot.com\/?p=448927"},"modified":"2024-06-11T14:07:59","modified_gmt":"2024-06-11T14:07:59","slug":"bitcoin-us-election-results-rally-5k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-us-election-results-rally-5k\/","title":{"rendered":"TA: Bitcoin Jumps To New 2020 High, US Election Results Could Spark Rally To $15K"},"content":{"rendered":"
Bitcoin price is rising steadily and it even broke the $14,000 resistance against the US Dollar. BTC is showing positive signs and it seems like US election results might trigger swing moves.<\/em><\/p>\n After a successful close above the $13,800 resistance, bitcoin price started a steady increase<\/a>. BTC broke the main $14,000 resistance level and settled nicely above the 100 hourly simple moving average.<\/p>\n The price cleared the $14,200 zone and traded to a new 2020 high at $14,338. It is currently following bullish path and showing a lot of positive signs above the $14,000 level. If there is a downside correction, an initial support is near the $14,150 level.<\/p>\n The 23.6% Fib retracement level of the recent rise from the $13,545 swing low to $14,388 high is also near $14,150. It seems like there is a rising channel forming with support near $13,950 on the hourly chart of the BTC\/USD pair.<\/p>\n <\/a><\/p>\n The channel support is near the 50% Fib retracement level of the recent rise from the $13,545 swing low to $14,388 high. On the upside, the $14,350 level is a short-term resistance.<\/p>\n A clear break above the channel resistance and $14,350 could open the doors for a push towards $14,500. The next major stop for the bulls may possibly be near the $15,000 level in the near term.<\/p>\n If bitcoin starts a downside correction, it could find bids near the $14,150 level. The first major support on the downside is near the $14,000 level and then the channel lower trend line.<\/p>\n\n
Bitcoin Price is Gaining Momentum<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Dips Supported in BTC?<\/h2>\n