{"id":381571,"date":"2019-05-10T06:00:04","date_gmt":"2019-05-10T06:00:04","guid":{"rendered":"https:\/\/wncen.com\/?p=381571"},"modified":"2024-06-11T12:51:30","modified_gmt":"2024-06-11T12:51:30","slug":"bitcoin-btc-price-upsurge-bulls-aiming-6-5k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-btc-price-upsurge-bulls-aiming-6-5k\/","title":{"rendered":"Bitcoin (BTC) Price Defies Gravity With Upsurge, Bulls Aiming $6.5K"},"content":{"rendered":"<ul>\n<li>Bitcoin price was unfazed and it recently broke the $6,200 resistance level against the US Dollar.<\/li>\n<li>The price even broke the $6,300 level and it seems like the bulls are now aiming $6,500.<\/li>\n<li>There is a major bullish trend line forming with support at $6,050 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could find a strong buying interest if it corrects lower towards $6,100 or $6,000.<\/li>\n<\/ul>\n<p><em>Bitcoin price rallied more than 4% and cleared $6,300 against the US Dollar. BTC remains in a strong uptrend and it seems like the bulls are now aiming a test of $6,400 or even $6,500.<\/em><\/p>\n<h2>Bitcoin Price Analysis<\/h2>\n<p>This week, bitcoin price <a href=\"https:\/\/wncen.com\/2019\/05\/09\/bitcoin-btc-price-rally-reaching-crucial-juncture\/\" target=\"_blank\" rel=\"noopener noreferrer \">overcame all hurdles<\/a> and rallied above $6,000 and $6,200 against the US Dollar. The BTC\/USD pair gained bullish momentum after it settled above $6,100 and the 100 hourly simple moving average. Recently, it broke a bullish flag pattern with resistance near $6,040 on the hourly chart to start a strong upward move. As a result, the bulls pushed the price above the $6,250 and $6,300 resistance levels. A new 2019 high was formed at $6,315 and the price is likely to extend gains.<\/p>\n<p>An initial support is near the $6,230 level, and the 23.6% Fib retracement level of the recent rally from the $5,961 low to $6,315 high. If there is a downside extension, the next key support could be $6,140. It represents the 50% Fib retracement level of the recent rally from the $5,961 low to $6,315 high. More importantly, there is a major bullish trend line forming with support at $6,050 on the hourly chart of the BTC\/USD pair. Moreover, the previous resistance area near $6,050 is likely to act as a strong buy zone if the price corrects lower.<\/p>\n<p>Besides, the price is now well above the $6,000 pivot level and the <a href=\"https:\/\/wncen.com\/2019\/05\/08\/bitcoin-btc-price-strong-buy-binance-hack\/\" target=\"_blank\" rel=\"noopener noreferrer \">bullish 100 hourly SMA<\/a>. Therefore, there are chances of more upsides above the $6,300 and $6,350 levels. The next main hurdle is near the $6,400 level, above which the price could rally towards the $6,500 level.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-381572\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Bitcoin-10.png?resize=1828%2C868\" alt=\"Bitcoin Price Analysis BTC Chart\" width=\"1828\" height=\"868\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Bitcoin-10.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Bitcoin-10.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Bitcoin-10.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Bitcoin-10.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Bitcoin-10.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Bitcoin-10.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Bitcoin-10.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<p>Looking at the <a href=\"https:\/\/www.tradingview.com\/symbols\/XBTUSD\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">chart<\/a>, bitcoin price is gaining bullish momentum above $6,200 and $6,300, with no major bearish sign. In the short term, there could be a few bearish moves, but dips remain supported near the $6,200 and $6,100 levels. Only a daily close below $6,000 and the 100 hourly SMA could start a substantial downside correction.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is currently placed heavily in the bullish zone, with positive signs.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently correcting lower in the overbought zone.<\/p>\n<p>Major Support Levels \u2013 $6,200 followed by $6,140.<\/p>\n<p>Major Resistance Levels \u2013 $6,300, $6,400 and $6,500.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price was unfazed and it recently broke the $6,200 resistance level against the US Dollar. The price even broke the $6,300 level and it seems like the bulls are now aiming $6,500. There is a major bullish trend line forming with support at $6,050 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could find a strong buying interest if it corrects lower towards $6,100 or $6,000. Bitcoin price rallied more than 4% and cleared $6,300 against the US Dollar. BTC remains in a strong uptrend and it seems like the bulls are now aiming a test of $6,400 or even $6,500. Bitcoin Price Analysis This week, bitcoin price overcame all hurdles and rallied above $6,000 and $6,200 against the US Dollar. The BTC\/USD pair gained bullish momentum after it settled above $6,100 and the 100 hourly simple moving average. Recently, it broke a bullish flag pattern with resistance near $6,040 on the hourly chart to start a strong upward move. As a result, the bulls pushed the price above the $6,250 and $6,300 resistance levels. A new 2019 high was formed at $6,315 and the price is likely to extend gains. An initial support is near the $6,230 level, and the 23.6% Fib retracement level of the recent rally from the $5,961 low to $6,315 high. If there is a downside extension, the next key support could be $6,140. It represents the 50% Fib retracement level of the recent rally from the $5,961 low to $6,315 high. More importantly, there is a major bullish trend line forming with support at $6,050 on the hourly chart of the BTC\/USD pair. Moreover, the previous resistance area near $6,050 is likely to act as a strong buy zone if the price corrects lower. Besides, the price is now well above the $6,000 pivot level and the bullish 100 hourly SMA. Therefore, there are chances of more upsides above the $6,300 and $6,350 levels. The next main hurdle is near the $6,400 level, above which the price could rally towards the $6,500 level. Looking at the chart, bitcoin price is gaining bullish momentum above $6,200 and $6,300, with no major bearish sign. In the short term, there could be a few bearish moves, but dips remain supported near the $6,200 and $6,100 levels. Only a daily close below $6,000 and the 100 hourly SMA could start a substantial downside correction. Technical indicators: Hourly MACD \u2013 The MACD is currently placed heavily in the bullish zone, with positive signs. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently correcting lower in the overbought zone. Major Support Levels \u2013 $6,200 followed by $6,140. Major Resistance Levels \u2013 $6,300, $6,400 and $6,500.<\/p>\n","protected":false},"author":67,"featured_media":344598,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119],"class_list":["post-381571","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc"],"acf":[],"yoast_head":"\n<title>Bitcoin (BTC) Price Defies Gravity With Upsurge, Bulls Aiming $6.5K<\/title>\n<meta name=\"description\" content=\"Bitcoin price rallied more than 4% and cleared $6,300 against the US Dollar. 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