Bitcoin Price Weekly Analysis – BTC/USD In Monstrous Uptrend

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Key Points

  • Bitcoin price rocketed higher above the $4000 level for a new high at $4098 against the US Dollar.
  • There was a break above a crucial contracting and ascending triangle at $3765 on the 4-hours chart of BTC/USD (data feed from SimpleFX).
  • Buying on dips towards the $3850 remain a good idea in the near term.

Bitcoin price is in a super bullish trend against the US Dollar and other cryptocurrencies, and BTC/USD might continue to move higher towards $4500.

Bitcoin Price Continuous Gains

Bitcoin price after the Hard Fork continued to gain momentum above $3000 against the US Dollar. The upside was so strong that buyers were able to break key resistance levels like $3700 and $3900. The price even broke a milestone level of $4000 and recently traded as high as $4098. The current uptrend is very strong and putting a lot of pressure on other cryptocurrencies like Ethereum.

During the upside move, there was a break above a crucial contracting and ascending triangle at $3765 on the 4-hours chart of BTC/USD. It has opened the doors for further gains above $4000 in the near term. The stated triangle at $3900 might act as a support if the


Read more ... source: NewsBTC USA

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