Bitcoin Price Weekly Analysis – BTC Looks to Trade Higher

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Key Points

  • Bitcoin cost after climbing above $465 opposite a US Dollar found sellers and fell sharply.
  • A bullish trend line on a 4-hours draft (data feed from Bitstamp) of BTC/USD managed to act as a support and prevented any serve declines during $435.
  • Buying dips might be a good understanding in a brief tenure as prolonged as a cost stays above a 100 elementary relocating normal (4-hours).

Bitcoin cost showed a lot of bullish signs this past week, and it looks like BTC/USD stays in an uptrend as prolonged as it stays above $440.

Bitcoin Price- 100 SMA as a support area

Bitcoin cost surged aloft as a BTC bulls managed to outpace a sellers. There was a mangle and tighten above a $450 level, though a cost found sellers nearby $470, and changed down sharply. However, there is a bullish trend line on a 4-hours draft (data feed from Bitstamp) of BTC/USD, that acted as a support and stalled a downside move.

The highlighted trend line and support area acted as a buy section and pushed a cost higher. BTC traded positively, and privileged a 50% Fibonacci retracement turn of a dump from a $470 high to $435 low. Currently, a cost is

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