{"id":377465,"date":"2019-04-07T05:28:46","date_gmt":"2019-04-07T05:28:46","guid":{"rendered":"https:\/\/wncen.com\/?p=377465"},"modified":"2024-06-11T13:39:13","modified_gmt":"2024-06-11T13:39:13","slug":"can-bitcoin-btc-buyers-keep-the-rally-going","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/can-bitcoin-btc-buyers-keep-the-rally-going\/","title":{"rendered":"Can Bitcoin (BTC) Buyers Keep The Rally Going?"},"content":{"rendered":"
Bitcoin price gained bullish momentum recently above $5,000 against the US Dollar. BTC is following a solid uptrend and it is likely to climb towards the $5,400 and $5,600 levels.<\/em><\/p>\n This past week, bitcoin started a strong rise<\/a> after it broke the $4,200 resistance price against the US Dollar. The BTC\/USD pair climbed above many resistance levels, including $4,400, $4,600 and $4,800. Buyers were even successful in a break above $5,000, plus a close above the 100 simple moving average (4-hours). The price traded above the $5,200 level and a new 2019 high was formed at $5,358. Later, the price started a downside correction and traded below $5,200 and $5,000.<\/p>\n There was a break below the 50% Fib retracement level of the last wave from the $4,128 low to $5,358 high. However, the decline was limited and the price found support near the $4,750 level. The 50% Fib retracement level of the last wave from the $4,128 low to $5,358 high also acted as a strong support. Recently, the price started a fresh increase and moved above the $5,000 and $5,100 resistance levels, which is a positive sign.<\/p>\n At the outset, there is a significant ascending channel formed with support at $4,900 on the 4-hours chart of the BTC\/USD pair. The pair is likely to continue higher<\/a> since it recently broke the $5,060 resistance level. To the topside, the price is likely to break the $5,358 high. The next stop could be $5,400, above which bitcoin is likely to surge towards the $5,600 resistance level in the near term.<\/p>\n <\/p>\nBitcoin Price Weekly Analysis (BTC)<\/h2>\n