Bitcoin Price Weekly Analysis – BTC/USD Buying Worked – NEWSBTC

BitsPlan

Key Points

  • Bitcoin price climbed higher this past week against the US Dollar, and my buying idea worked.
  • There is a new bullish trend line formed on the 4-hours chart (data feed from SimpleFX) of BTC/USD, which is acting as a support zone.
  • The price is also above the 100 hourly simple moving average, which is a positive sign.

Bitcoin price managed to stay in the bullish zone versus the US Dollar and ETH, and it may continue to slowly move higher in the near term.

Bitcoin Price Buy

BTC price was seen trading with a bullish tone this past week versus the US Dollar. Although, the gains were not very high, but the good thing was the fact that the price remained in an uptrend. In this past week analysis, I mentioned that the price may continue to appreciate in the short term. It did move higher, and remained above the all-important $600 support zone.

There was a move above the $610 level on a couple of occasions, but the BTC bulls failed to gain momentum. So, there was a no major move towards the $625 level. However, there is now a new bullish trend line formed on the 4-hours chart (data feed from

Read more ... source: TheBitcoinNews

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