{"id":378270,"date":"2019-04-13T04:08:22","date_gmt":"2019-04-13T04:08:22","guid":{"rendered":"https:\/\/wncen.com\/?p=378270"},"modified":"2024-06-11T12:54:34","modified_gmt":"2024-06-11T12:54:34","slug":"bitcoin-price-btc-signaling-bullish-continuation","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-btc-signaling-bullish-continuation\/","title":{"rendered":"Bitcoin (BTC) Price Signaling Bullish Continuation With Bulls In Control"},"content":{"rendered":"
Bitcoin price likely completed a downside correction near $4,900 against the US Dollar. BTC is grinding higher and the current price action is indicating bullish continuation above the $5,200 level.<\/em><\/p>\n Recently, we saw a solid downside correction from the $5,460 swing high in bitcoin price against the US Dollar. The BTC\/USD pair declined below the $5,300 and $5,200 support levels. There was even a close below the $5,200 level and the 100 hourly simple moving average. However, as discussed in one of the recent analysis, bitcoin did find a strong support near the $4.9K-5.0K zone<\/a>. The price traded towards the $4,900 support and formed a low near the $4,922 level.<\/p>\n Recently, there was a solid upward move and the price recovered above the $5,000 and $5,040 resistance levels. There was even a close above the $5,080 level and the 23.6% Fib retracement level of the last decline from the $5,462 high to $4,922 low. The price is now approaching a significant resistance near the $5,150 level. Besides, the 100 hourly SMA is also positioned near the $5,160 level to act as a resistance. More importantly, there is a major breakout pattern in place with resistance at $5,130 on the hourly chart of the BTC\/USD pair.<\/p>\n Above $5,160, the price could test the 50% Fib retracement level of the last decline from the $5,462 high to $4,922 low. If bitcoin gains pace above the $5,180 and $5,200 resistance levels, there could be a solid upward move towards the $5,300 and $5,350 levels. In the mentioned case, the crypto market<\/a> could gain traction, with bullish moves in Ethereum<\/a>, ripple<\/a>, litecoin and others.<\/p>\n <\/p>\nBitcoin Price Analysis<\/h2>\n