Bitcoin Price Weekly Analysis – Can BTC/USD Test $800?

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Key Points

  • Bitcoin cost remained in an uptrend opposite a US Dollar, and traded above a $750 resistance.
  • There is a vital bullish trend line shaped on a 4-hours draft (data feed from SimpleFX) of BTC/USD, behaving as a support area.
  • If a cost corrects lower, it might find buyers nearby a $750-40 levels.

Bitcoin cost continued to benefit strength opposite a US Dollar, and it looks like BTC/USD stays a good buy if it dips or corrects lower.

Bitcoin Price Major Support and Buy Area

There were continual gains in Bitcoin cost opposite a US Dollar, as it pennyless a integrate of critical resistances to set a gait for some-more gains. The many critical tighten was above a $750 level, that might now act as a support if a cost corrects lower. Recently, a cost traded as high as $786 (BTC/USD and information feed from SimpleFX), and now consolidating gains.

It already tested a 23.6% Fib retracement turn of a final call from a $684 low to $786 high, and found support. As can be clearly seen in a chart, there is a essential support and buy area shaped during $750. There is also a bullish trend line on a same chart, behaving as

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