{"id":381680,"date":"2019-05-11T03:18:07","date_gmt":"2019-05-11T03:18:07","guid":{"rendered":"https:\/\/wncen.com\/?p=381680"},"modified":"2024-06-11T12:50:24","modified_gmt":"2024-06-11T12:50:24","slug":"bitcoin-btc-price-hits-6-5k-real-test-ahead","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-btc-price-hits-6-5k-real-test-ahead\/","title":{"rendered":"Bitcoin (BTC) Price Hits $6.5K Target: $6.85K Could Be The Real Test"},"content":{"rendered":"
Bitcoin price is extending its rally above the $6,450 level against the US Dollar. BTC is following a solid bullish path and it seems like it could even test the $6,800 level in the near term.<\/em><\/p>\n Yesterday, we saw a strong rise in bitcoin price above the $6,200 resistance area against the US Dollar. The BTC\/USD pair even broke the $6,350 level and settled well above the 100 hourly simple moving average. As a result, the bulls are in control and they were successful in clearing a major resistance area near the $6,400 level. Earlier, there was a minor dip, but the $6,280 and $6,300 levels provided support. As a result, the price bounced back and broke the $6,450 level.<\/p>\n It recently tested the $6,500 level and is currently consolidating gains. An initial support is near $6,440, and the 23.6% Fib retracement level of the recent wave from the $6,245 low to $6,500 high. However, the main support is near the previous breakout zone at $6,400. Besides, the 50% Fib retracement level of the recent wave from the $6,245 low to $6,500 high is also near the $6,400 level to act as a strong support. Below $6,400, the price may decline back towards the $6,250 support area.<\/p>\n More importantly, yesterday\u2019s highlighted important bullish trend line is intact with support at $6,060 on the hourly chart of the BTC\/USD pair. The pair is clearly in a strong uptrend and it seems like it could even break the $6,550 and $6,600 levels in the coming sessions. As a result, the main target for the bulls could near the $6,800 and $6,850 levels (as pointed out in one of the previous analysis with the daily chart<\/a>).<\/p>\n <\/p>\nBitcoin Price Analysis<\/h2>\n