Bitcoin Price Weekly Analysis – Strong Bullish Pressure

Key Highlights

  • The Bitcoin price started a good move higher as the bulls were under control, taking the price higher.
  • There is a bullish trend line formed on the 4-hours chart that might continue to help buyers to remain in control.

Bitcoin price traded higher this past week as there was solid buying interest seen which helped it to move higher.

More Gains

The Bitcoin price moved higher this past week, and climbed above an important resistance area of 260.0. The price traded as high as 281.00 where it found sellers. There was a solid buying interest noted this past week, which started to appear around the 255-60 area. There is a bullish trend line formed on the 4-hours chart of the Bitcoin price. There is a bullish wave formed, which can be clearly seen from the Bollinger Bands. The price is continuously finding sellers around 280.0. Let us see whether there is a chance of a correction in the near term or not.

Bitcoin Price Weekly Analysis Bitcoin Price Weekly Analysis

The RSI is around the extreme levels, which means there is a possibility of a

Read more ... source: TheBitcoinNews