Bitcoin Price Weekly Analysis – BTC/USD Remains a Buy

Bitcoin Price Weekly Analysis – BTC/USD Remains a Buy

Key Points Bitcoin price slowly and steadily moved above the $1000 resistance against the US Dollar. There is a nice bullish trend line formed on the 4-hours chart (data feed from SimpleFX) of BTC/USD, which may act as a support near $1020. The price is also above the 100 simple moving average (H4), which is a major support at $1023. Bitcoin price gained bids against the US Dollar to trade above a crucial hurdle ($1000). BTC/USD now has moved into the bullish zone with buy dips approach. Bitcoin Price Support It looks like Bitcoin price managed to recover well during the past week against the US Dollar, as it moved above $1000. There was a perfect structure formation for a recovery. The best part was a close above the $1000 level, and also above the 100 simple...

Bitcoin Price Weekly Analysis – BTC/USD Sighting Gains?

Bitcoin Price Weekly Analysis – BTC/USD Sighting Gains?

Key Points Bitcoin price managed to stay above the $900 support against the US Dollar, which is a positive sign. There is a major breakout pattern formed on the 4-hours chart (data feed from SimpleFX) of BTC/USD with resistance near $930. A break and close above the triangle resistance might open the doors for more gains towards $950. Bitcoin price made a nice move versus the US dollar, and stayed above $900. More gains are possible in BTC/USD in the near term? Bitcoin Price Breakout Approaching There were no major swing moves in Bitcoin price this past week against the US Dollar, as after a dip towards $885, the price started recovering. There was an upside move, which pushed the price back above the $900 resistance. The price moved above the 23.6% Fib...

Bitcoin Price Weekly Analysis – BTC/USD To Retest $1000?

Bitcoin Price Weekly Analysis – BTC/USD To Retest $1000?

Key Points Bitcoin price managed to start recovering from the $710-700 area, and currently trading higher against the US Dollar. There is nice solid bullish trend line formed on the 4-hours chart (data feed from SimpleFX) of BTC/USD, which is acting as a catalyst for an upside move. The price is also above the 100 simple moving average (H4) at $850, which is a positive sign. Bitcoin price started a nice upside move vs the US Dollar, and it looks like there is a chance of BTC/USD retesting the $1000 level. Bitcoin Price Bullish Trend This past week we saw how Bitcoin price started a recovery against the US Dollar, traded back above the $800 level. We saw a flag pattern formed on the 4-hours chart of BTC/USD, which continued to act as a support and pushed the price...

Bitcoin Price Weekly Analysis – BTC/USD Upside Contained

Bitcoin Price Weekly Analysis – BTC/USD Upside Contained

Key Points Bitcoin price moved down sharply this past week to trade close to the $700 handle against the US dollar before starting a recovery. There is a recovery underway, as there is a flag pattern formed on the 4-hours chart (data feed from SimpleFX) of BTC/USD. The price is currently facing a couple of important resistance levels, including $850 and $880. Bitcoin price after a sharp decline towards $700 against the US dollar started a recovery. But it looks like upsides in BTC/USD are contained. Bitcoin Price Resistances There was a nasty decline in Bitcoin price against the US Dollar, as it declined from $1150 to $700, weakening by more than 20%. Later, the price found support near $707 from where a recovery was started. The price is currently above the $800...

Bitcoin Price Weekly Analysis – BTC/USD Back Testing Resistance

Bitcoin Price Weekly Analysis – BTC/USD Back Testing Resistance

Key Points Bitcoin price dived against the US Dollar before ending the week and closed below $1000. The BTC/USD pair is now back trading higher, but facing a major confluence resistance near $960-980 on the 4-hours chart (data feed from SimpleFX). The price is also below the 100 simple moving average on the same chart, which may act as a resistance near $975. Bitcoin price after a major downside move towards $820 against the US Dollar started recovering. Can BTC/USD overcome the $980 resistance again? Bitcoin Price Resistance We saw this past week how Bitcoin price made a new all-time high against the US Dollar to trade above the $1150 mark. Later, there was a solid downside move, taking the price lower by more than 20%. The price fell below the $1000 level and...