{"id":368695,"date":"2019-01-20T06:00:19","date_gmt":"2019-01-20T06:00:19","guid":{"rendered":"https:\/\/wncen.com\/?p=368695"},"modified":"2024-06-11T12:57:46","modified_gmt":"2024-06-11T12:57:46","slug":"bitcoin-price-weekly-analysis-btc-could-accelerate-gains-above-3850","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-weekly-analysis-btc-could-accelerate-gains-above-3850\/","title":{"rendered":"Bitcoin Price Weekly Analysis: BTC Could Accelerate Gains Above $3,850"},"content":{"rendered":"
Bitcoin price is showing positive signs above the $3,600 support against the US Dollar. BTC\/USD could accelerate gains once there is a break above $3,800 and $3,850.<\/em><\/p>\n This past week, bitcoin price dived below the $3,560 support level<\/a> against the US Dollar. However, the BTC\/USD pair found a strong buying interest near the $3,480 and $3,500 support levels. As a result, there was a sharp bounce above the $3,560 level. The price climbed above the $3,600 and $3,640 resistance levels. Besides, there was a break above the 23.6% Fib retracement level of the last decline from the $4,111 high to $3,489 low. Later, there was a consolidation pattern formed above the $3,600 level.<\/p>\n Finally, there was a break above a contracting triangle with resistance at $3,635 on the 4-hours chart of the BTC\/USD pair. The price tested the 100 simple moving average (4-hours) and the $3,800 resistance level. However, the price failed to stay above the 50% Fib retracement level of the last decline from the $4,111 high to $3,489 low. There was a fresh downside move below the $3,700 level and the price is currently trading in a range. On the upside, there are many hurdles<\/a>, starting with $3,750 and ending with $3,850. Furthermore, there is a crucial bearish trend line in place with resistance near $3,850 on the same chart.<\/p>\n <\/p>\nBitcoin Price Analysis<\/h2>\n