{"id":373923,"date":"2019-03-08T06:30:45","date_gmt":"2019-03-08T06:30:45","guid":{"rendered":"https:\/\/wncen.com\/?p=373923"},"modified":"2024-06-11T12:51:38","modified_gmt":"2024-06-11T12:51:38","slug":"bitcoin-btc-price-watch-bullish-break-above-4000-looming","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-btc-price-watch-bullish-break-above-4000-looming\/","title":{"rendered":"Bitcoin (BTC) Price Watch: Bullish Break Above $4,000 Looming"},"content":{"rendered":"
Bitcoin price is forming a bullish breakout pattern above the $3,800 support against the US Dollar. BTC could surge above the $3,900 and $4,000 resistance levels in the near term.<\/em><\/p>\n After a strong upward move above the $3,850 level, bitcoin price started consolidating gains<\/a> against the US Dollar. The BTC\/USD pair tested the $3,900 resistance on a couple occasions and later corrected lower. It declined below the $3,850 level, but downside were limited. The last swing low was formed at $3,831 before the price recovered above $3,840. There was a break above the 50% Fib retracement level of the recent slide from the $3,892 high to $3,831 low.<\/p>\n However, the price is currently facing a strong resistance near the $3,880 and $3,890 levels. Besides, the 76.4% Fib retracement level of the recent slide from the $3,892 high to $3,831 low is acting as a resistance. More importantly, there is a symmetrical triangle pattern formed with resistance at $3,880 on the hourly chart of the BTC\/USD pair. Therefore, it seems like the pair is setting up for the next break, which could be above $3,880. If there is a successful close above $3,880 and $3,900, the price may surge higher<\/a> towards the $4,000 resistance level.<\/p>\n An intermediate resistance is near the $3,930 level. It represents the 1.618 Fib extension level of the recent slide from the $3,892 high to $3,831 low. On the other hand, if the price fails to gain pace above $3,900, it could decline below the $3,850 support. The next main support is near the $3,820 level. If there are further losses, the price may perhaps test the $3,800 support and the 100 hourly simple moving average.<\/p>\n <\/p>\nBitcoin Price Analysis<\/h2>\n