{"id":374136,"date":"2019-03-11T06:38:10","date_gmt":"2019-03-11T06:38:10","guid":{"rendered":"https:\/\/wncen.com\/?p=374136"},"modified":"2024-06-11T12:51:40","modified_gmt":"2024-06-11T12:51:40","slug":"bitcoin-btc-price-watch-bulls-target-fresh-monthly-highs","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-btc-price-watch-bulls-target-fresh-monthly-highs\/","title":{"rendered":"Bitcoin (BTC) Price Watch: Bulls Target Fresh Monthly Highs"},"content":{"rendered":"
Bitcoin price is placed nicely in an uptrend above $3,800 and $3,840 against the US Dollar. BTC is likely to climb higher and it could break the $4,000 barrier to set a new monthly high.<\/em><\/p>\n Recently, there was a sharp decline in bitcoin price below the $3,840 and $3,800 levels against the US Dollar. The BTC\/USD pair spiked below the $3,775 level and traded as low as $3,760. Later, there was a sharp recovery<\/a> above the $3,800 resistance level. The rebound was strong as the price even broke the $3,840 and $3,900 resistance levels. The price traded to a new weekly high above $3,940 before correcting lower. A high was formed at $3,946 and later the price dipped below the $3,900 level.<\/p>\n There was a break below the 23.6% Fib retracement level of the recent wave from the $3,760 low to $3,946 high. Sellers even pushed the price below the $3,880 level and the 100 hourly simple moving average. However, the decline was stopped near the $3,850 support. The 50% Fib retracement level of the recent wave from the $3,760 low to $3,946 high also acted as a support. On the downside, there is a crucial support near $3,830 and an ascending channel on the hourly chart of the BTC\/USD pair.<\/p>\n At the outset, there is a short term declining channel in place with resistance at $3,900 on the same chart. In the short term, there is a risk of a downside push towards $3,840 or $3,830 before the price could climb higher. On the upside, a break above the $3,900 resistance<\/a> is must for a fresh upward move. In the mentioned case, the price could spike above the $3,946 high. The next key resistance is near the $4,000 and $4,050 levels.<\/p>\n <\/p>\nBitcoin Price Analysis<\/h2>\n