{"id":374928,"date":"2019-03-16T15:00:23","date_gmt":"2019-03-16T15:00:23","guid":{"rendered":"https:\/\/wncen.com\/?p=374928"},"modified":"2024-06-11T12:51:50","modified_gmt":"2024-06-11T12:51:50","slug":"bitcoin-btc-price-watch-weekend-rally-and-possible-run-to-4200","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-btc-price-watch-weekend-rally-and-possible-run-to-4200\/","title":{"rendered":"Bitcoin (BTC) Price Watch: Weekend Rally And Possible Run To $4,200"},"content":{"rendered":"
Bitcoin price rallied recently above the $4,000 level against the US Dollar. BTC corrected lower, but it remains supported and it may continue to grind higher in the near term.<\/em><\/p>\n In the past few days, we saw a solid selling interest below $3,900<\/a> for bitcoin price against the US Dollar. The BTC\/USD pair struggled to break the $3,900 resistance on many occasions. There were even a few swing moves below the $3,850 level. However, the price remained well bid and later it managed to climb above the $3,850 and $3,900 resistance levels. The price even cleared the $4,000 resistance level and settled well above the 100 hourly simple moving average.<\/p>\n A new weekly high was formed at $4,042 and later the price corrected lower. It traded below the $4,000 support and the 23.6% Fib retracement level of the recent wave from the $3,886 low to $4,042 high. However, there are many supports on the downside<\/a> near $3,950 and $3,920. Moreover, the 50% Fib retracement level of the recent wave from the $3,886 low to $4,042 high also acted as a support. On the downside, there is a major bullish trend line formed with support at $3,940 on the hourly chart of the BTC\/USD pair.<\/p>\n The trend line coincides with the 61.8% Fib retracement level of the recent wave from the $3,886 low to $4,042 high. Therefore, there could be a strong buying interest near the $3,940 level. On the upside, an initial resistance is near the $4,000 level. The next resistance is near the $4,040-4,050 zone, above which the price is likely to accelerate higher. The next main resistance is at $4,120, where sellers may emerge.<\/p>\n <\/p>\nBitcoin Price Analysis<\/h2>\n