{"id":370955,"date":"2019-02-09T19:30:14","date_gmt":"2019-02-09T19:30:14","guid":{"rendered":"https:\/\/wncen.com\/?p=370955"},"modified":"2024-06-11T07:44:21","modified_gmt":"2024-06-11T07:44:21","slug":"bitcoin-btc-holds-steady-above-3600-may-still-have-fuel-to-move-higher-in-near-future","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-btc-holds-steady-above-3600-may-still-have-fuel-to-move-higher-in-near-future\/","title":{"rendered":"Bitcoin (BTC) Holds Steady Above $3,600, May Still Have Fuel to Move Higher in Near Future"},"content":{"rendered":"

Bitcoin (BTC) has held steady above $3,600 after yesterday\u2019s upwards surge that sent it climbing from lows of $3,400 to highs of $3,700. Although often times these upwards price movements are typically followed by a cool-off period that results in Bitcoin surrendering a portion of its gains, BTC has held steady at its current price levels.<\/p>\n

Now, analysts claim that Bitcoin<\/a> may still have further room to climb, as many technical indicators are beginning to turn bullish following yesterday\u2019s price surge.<\/p>\n

Bitcoin (BTC) Stable Above $3,600<\/strong><\/h2>\n

At the time of writing, Bitcoin<\/a> is trading up less than 1% at its current price of $3,650. Over a one-week period, BTC is trading up from its weekly lows of $3,400, which has proven to be a relatively strong level of support for the cryptocurrency.<\/p>\n

Yesterday\u2019s price movement allowed Bitcoin to break above its previously established resistance level of $3,500, and it is likely that the cryptocurrency will beginning establishing a new trading range in the near-future.<\/p>\n

Chonis Trading, a popular cryptocurrency analyst on Twitter, recently explained that it is important for Bitcoin to finish the week above $3,550, which would bullishly engulf last week\u2019s candle and potentially signal that BTC has more room to climb.<\/p>\n

\u201c$BTC – still a couple days left in the weekly #bitcoin chart…Ideal close with this weekly candle is above the $3550 area which would bullishly engulf last weeks candle and maintain a decent tweezer bottoming candle combo… Note current resistance coincides with Sept 2017 zone,\u201d he explained.<\/p><\/blockquote>\n

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$BTC<\/a> – still a couple days left in the weekly #bitcoin<\/a> chart…Ideal close with this weekly candle is above the $3550 area which would bullishly engulf last weeks candle and maintain a decent tweezer bottoming candle combo… Note current resistance coincides with Sept 2017 zone. pic.twitter.com\/nPfn8QNREC<\/a><\/p>\n

— BIG Chonis (@BigChonis) February 8, 2019<\/a><\/p><\/blockquote>\n