Bitcoin Price Key Highlights
- The Bitcoin price continued to rocket higher and our bullish bias paid off in the near term.
- There are many positive signs emerging for the price and the idea of buying dips is still a good option.
Bitcoin price traded above the $300 level and it looks like it might test the $350 area if buyers stay in control.
Buyers to take the price higher?
The Bitcoin price surged higher this past week, as the 4-hours chart clearly speaks a lot about how buyers were in control. The price broke a monster resistance area of $300 and the price even closed the week above the mentioned area. A new weekly high was formed around $335 where there is a minor resistance noted. There is a bullish trend line formed on the 4-hours chart, which might act as a support if the price moves lower from the current levels.
The price already corrected once towards the downside and tested the 38.2% Fib retracement level of the last leg from the $280 low to $334 high. The