{"id":372205,"date":"2019-02-21T06:30:29","date_gmt":"2019-02-21T06:30:29","guid":{"rendered":"https:\/\/wncen.com\/?p=372205"},"modified":"2024-06-11T12:57:14","modified_gmt":"2024-06-11T12:57:14","slug":"bitcoin-price-watch-btc-readies-for-bullish-acceleration-above-4000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-watch-btc-readies-for-bullish-acceleration-above-4000\/","title":{"rendered":"Bitcoin Price Watch: BTC Readies For Bullish Acceleration Above $4,000"},"content":{"rendered":"
Bitcoin price is likely setting up for the next break above $4,000 against the US Dollar. BTC could gain bullish momentum towards $4,200 if it succeeds in surpassing the $4,000 resistance.<\/em><\/p>\n Yesterday, we saw a minor downside correction<\/a> from the $3,975 swing high in bitcoin price against the US Dollar. The BTC\/USD pair traded below the $3,900 support level, but it found support near the $3,860 level. Later, it formed a support base above $3,860 and finally started a fresh upward move. It broke the 50% Fib retracement level of the recent decline from the $3,974 high to $3,861 low. Besides, there was a break above a connecting bearish trend line at $3,900 on the hourly chart of the BTC\/USD pair.<\/p>\n The pair settled above the $3,920 level and traded close to the $3,950 resistance. BTC tested the 76.4% Fib retracement level of the recent decline from the $3,974 high to $3,861 low. It is currently consolidating below $3,950, with a bullish angle. The current price action is positive and it seems like there could be more gains<\/a> above $3,950 and $3,975. However, a successful break above the $4,000 resistance is must for an upside acceleration. The next key resistance is near $4,180 and $4,200 levels.<\/p>\n On the downside, the main support is near the $3,900 level. There is also a major bullish trend line formed with support at $3,900 on the same chart. Should BTC decline below the trend line, it could test the $3,860 and $3,830 support levels. The final support is at $3,800 and the 100 hourly simple moving average. Below the 100 hourly SMA, the price could decline towards $3,720.<\/p>\n <\/p>\nBitcoin Price Analysis<\/h2>\n