{"id":373638,"date":"2019-03-06T06:30:58","date_gmt":"2019-03-06T06:30:58","guid":{"rendered":"https:\/\/wncen.com\/?p=373638"},"modified":"2024-06-11T12:57:12","modified_gmt":"2024-06-11T12:57:12","slug":"bitcoin-price-watch-btc-rally-could-extend-above-4000-and-4200","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-watch-btc-rally-could-extend-above-4000-and-4200\/","title":{"rendered":"Bitcoin Price Watch: BTC Rally Could Extend Above $4,000 and $4,200"},"content":{"rendered":"
Bitcoin price reversed most its losses and surged above $3,800 against the US Dollar. BTC is now facing a strong resistance at $3,860, above which it could test $4,000.<\/em><\/p>\n Yesterday, bitcoin price broke the $3,720 support level<\/a> and tested $3,670 against the US Dollar. The BTC\/USD pair formed a low near the $3,672 level and later started a solid rebound. There was a break above a contracting triangle at $3,710, opening the doors for a fresh rally. The price surged higher and broke the $3,750 and $3,800 resistance levels. There was even a close above the $3,760 resistance and the 100 hourly simple moving average.<\/p>\n More importantly, there was a break above a key bearish trend line at $3,780 on the hourly chart of the BTC\/USD pair. The pair even spiked above the most important resistance at $3,860<\/a>. However, buyers failed to retain gains above the $3,860 resistance and the price retreated from highs. It corrected below the $3,850 and $3,840 level. There was also a break below the 23.6% Fib retracement level of the recent wave from the $3,672 low to $3,875 high.<\/p>\n At the outset, the price is forming a consolidation pattern with support at $3,810. If there is a downside break below $3,810, the price could test the $3,775 support and the 100 hourly simple moving average. Besides, the 50% Fib retracement level of the recent wave from the $3,672 low to $3,875 high is also near $3,775. The main support is near the $3,760 level, which was a resistance earlier. On the upside, the price must settle above the $3,860 resistance level to climb further higher.<\/p>\n <\/p>\nBitcoin Price Analysis<\/h2>\n