{"id":367106,"date":"2019-01-03T05:00:11","date_gmt":"2019-01-03T05:00:11","guid":{"rendered":"https:\/\/wncen.com\/?p=367106"},"modified":"2024-06-11T12:41:29","modified_gmt":"2024-06-11T12:41:29","slug":"bitcoin-price-watch-btc-primed-to-break-4k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-watch-btc-primed-to-break-4k\/","title":{"rendered":"Bitcoin Price Watch: BTC Primed To Break $4K"},"content":{"rendered":"
Key Points<\/p>\n
Bitcoin price is showing positive signs above $3,800 against the US Dollar. BTC remains well supported on the downside for more gains above $4,000.<\/em><\/p>\n Yesterday, we discussed that bitcoin price remains buy on dips<\/a> near the $3,700 level against the US Dollar. The BTC\/USD pair remained in a nice uptrend and it moved above the $3,820 and $3,900 resistance levels. The price traded as high as $3,923 and it is currently correcting lower. It broke the $3,900 support, but it is placed well above the 100 hourly simple moving average.<\/p>\n At the outset, the price is testing the 23.6% Fib retracement level of the recent wave from the $3,646 low to $3,923 high. More importantly, there is a key ascending channel formed with support at $3,850 on the hourly chart of the BTC\/USD pair. Should there be a downside break below the channel support, the price may test the $3,780 support. It represents the 50% Fib retracement level of the recent wave from the $3,646 low to $3,923 high. Therefore, if the price corrects lower in the short term, buyers may appear<\/a> near $3,850 or $3,780. On the upside, a break above the $3,900 and $3,930 levels may push the price towards $4,000.<\/p>\n <\/p>\nBitcoin Price Analysis<\/h3>\n