{"id":377853,"date":"2019-04-10T06:28:19","date_gmt":"2019-04-10T06:28:19","guid":{"rendered":"https:\/\/wncen.com\/?p=377853"},"modified":"2024-06-11T13:39:16","modified_gmt":"2024-06-11T13:39:16","slug":"bitcoin-strength-btc-price-high","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-strength-btc-price-high\/","title":{"rendered":"Bitcoin Showing Signs of Strength As BTC Price Targets Fresh Highs"},"content":{"rendered":"
Bitcoin bulls are gaining momentum above $5,200 against the US Dollar. BTC price may continue to rise and it is likely to climb above the $5,360 and $5,400 resistance levels.<\/em><\/p>\n In the past three sessions, there were mostly range moves below $5,300 in bitcoin price against the US Dollar. Earlier, the BTC\/USD pair started a downside correction<\/a> after trading as high as $5,362. It declined below the $5,250 support area and the 23.6% Fib retracement level of the upward move from the $4,896 low to $5,362 high. There was also a break below the $5,200 support before buyers emerged near the $5,150 level. Later, the price started trading in a range above the $5,150 level and the 100 hourly simple moving average.<\/p>\n The price is also trading nicely above the 50% Fib retracement level of the upward move from the $4,896 low to $5,362 high. More importantly, yesterday\u2019s highlighted<\/a> significant ascending channel is intact with support at $5,180 on the hourly chart of the BTC\/USD pair. The channel support, $5,150, and the 100 hourly SMA hold the key for the next move in the near term.<\/p>\n As long as bitcoin price is following the channel, there are chances of more gains above the $5,300 and $5,360 resistance levels. The price might even trade to a new 2019 high above the $5,380 level. The next key resistance is near the $5,400 level, where sellers might appear. Conversely, if there is a downside break below the $5,150 support, then there could be more downsides. The next immediate support is at $5,075, below which the price may revisit the $5,000 support area.<\/p>\n <\/p>\nBitcoin Price Analysis<\/h2>\n