Bitcoin (BTC) Price Watch: Bullish Break Above $4,000 Looming

2019-3-8 09:30

Bitcoin price is currently consolidating above the $3,820 and $3,840 supports against the US Dollar. The price placed in a positive zone, with a bullish angle towards the $4,000 resistance. There is a symmetrical triangle pattern formed with resistance at $3,880 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair will most likely break the $3,880 and $3,900 resistance levels to climb above or challenge $4,000.

Bitcoin price is forming a bullish breakout pattern above the $3,800 support against the US Dollar. BTC could surge above the $3,900 and $4,000 resistance levels in the near term.

Bitcoin Price Analysis

After a strong upward move above the $3,850 level, bitcoin price started consolidating gains against the US Dollar. The BTC/USD pair tested the $3,900 resistance on a couple occasions and later corrected lower. It declined below the $3,850 level, but downside were limited. The last swing low was formed at $3,831 before the price recovered above $3,840. There was a break above the 50% Fib retracement level of the recent slide from the $3,892 high to $3,831 low.

However, the price is currently facing a strong resistance near the $3,880 and $3,890 levels. Besides, the 76.4% Fib retracement level of the recent slide from the $3,892 high to $3,831 low is acting as a resistance. More importantly, there is a symmetrical triangle pattern formed with resistance at $3,880 on the hourly chart of the BTC/USD pair. Therefore, it seems like the pair is setting up for the next break, which could be above $3,880. If there is a successful close above $3,880 and $3,900, the price may surge higher towards the $4,000 resistance level.

An intermediate resistance is near the $3,930 level. It represents the 1.618 Fib extension level of the recent slide from the $3,892 high to $3,831 low. On the other hand, if the price fails to gain pace above $3,900, it could decline below the $3,850 support. The next main support is near the $3,820 level. If there are further losses, the price may perhaps test the $3,800 support and the 100 hourly simple moving average.

Looking at the chart, bitcoin price is preparing for the next ride either above $3,900 or below $3,800. There are higher chances of a break above $3,900 and $3,930 considering the current structure. If buyers remain in action, the price could even clear the $4,000 barrier in the coming sessions.

Technical indicators

Hourly MACD – The MACD is about to move back in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is placed well above the 50 level, with a positive angle.

Major Support Level – $3,820 followed by $3,800.

Major Resistance Level – $3,880, $3,900 and 4,000.

The post Bitcoin (BTC) Price Watch: Bullish Break Above $4,000 Looming appeared first on NewsBTC.

origin »

Bitcoin (BTC) на Currencies.ru

$ 83156.24 (+0.23%)
Объем 24H $29.072b
Изменеия 24h: 0.44 %, 7d: -6.75 %
Cегодня L: $80441.76 - H: $83156.24
Капитализация $1649.55b Rank 1
Цена в час новости $ 3915.18 (2023.94%)

price bitcoin above bullish btc resistance pair

price bitcoin → Результатов: 126


Bitcoin Price Holds Above $96,000 — Analyst Explains This Level’s Significance

The Bitcoin price appears to have settled within the $92,000 – $102,000 consolidation range, sparking discussions about the coin’s future trajectory. While it remains unclear whether the premier cryptocurrency has enough momentum to forge new all-time highs soon, it would take significant bearish pressure to pull down the BTC price.

2025-2-9 16:00


Bitcoin Price Struggles With Liquidity Blocks From $86,000 To $104,000, Analyst Reveals The Logical Thing To Do

The Bitcoin price has spent the majority of the past seven days consolidating around the $94,000 mark with signs of a break to either side. According to a crypto analyst, Bitcoin’s recent price movements have led to the creation of liquidity blocks observed between the $86,000 to $104,000 range, which raises an equal likelihood of a bounce towards $104,000 or a downside break to $86,000 from the current price.

2025-1-13 14:00


Bitcoin price analysis: economic headwinds push price lower

Bitcoin tested the $92,000 level yesterday after falling from a weekly high of $102,000 as sell pressures mounted Macroeconomic factors cause doubts about the market strength as sticky inflation becomes a concern Spot crypto ETFs logged large outflows on Wednesday following the release of the Fed meeting notes Bitcoin’s price has fallen from a high […] The post Bitcoin price analysis: economic headwinds push price lower appeared first on CoinJournal.

2025-1-11 17:48