Bitcoin Price Weekly Analysis – BTC/USD Remains Buy Dips

Key Points

  • Bitcoin price climbed higher this past week against the US Dollar, and currently showing a lot of bullish signs.
  • There was a bearish trend line on the hourly chart (data feed from Bitstamp) of BTC/USD, which was broken during the upside drift.
  • Buying dips remain a good option in the short term, as long as the price stays above $440.00.

Bitcoin price grinded higher this past week and broke a major resistance area. There are clear signals for more gains in BTC/USD moving ahead.

Bitcoin Price- Are you looking to buy?

Bitcoin price climbed higher this past week against the US dollar and broke a few important barriers on the way to set the pace for more gains. BTC/USD buyers also cleared a bearish trend line on the hourly chart (data feed from Bitstamp), which can be seen as a bullish sign and might take the price further higher. Currently, the price is struggling near the $457-60 resistance area and facing offers.

So, there is a chance of BTC moving down a few points before climbing once again. If you are looking to buy, then an initial support on the downside is around the 50% Fibonacci retracement level of the last wave from

Read more ... source: TheBitcoinNews

News from Darknet

NO COMMENTS