Tuesday , August 9 2022

Watch the Bitcoin Price: BTC Readies About Bullish Acceleration Above $ 4,000



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  • Bitcoin's price is well supported at the disadvantage of $ 3,900 and $ 3,850 in support of the US Dollar.
  • The price is likely to accelerate earnings above the levels of resisting $ 3,975 and $ 4,000.
  • A strong bullish trend line has been formed with $ 3,900 help on an hourly chart of BTC / USD pair (Kraken data feeds).
  • The couple could turn a few points, but buyers are likely to protect a reduction below $ 3,850.

Bitcoin's price is likely to set up for the next break over $ 4,000 against the US Dollar. BTC could gain a bullish momentum of $ 4,200 if it exceeds the resistance of $ 4,000.

Bitcoin Price Analysis

Yesterday, we saw a slight correction failure of the $ 3,975 high swing in the bitcoin price against the US Dollar. The BTC / USD pair traded under the aid level of $ 3,900, but there was support at the level of $ 3,860. Later, it was a help base above $ 3,860 and finally, a new movement started up. Fib level broke down 50% of the recent decrease of $ 3,974 in height to $ 3,861 low. In addition, a break above a related bearish trend line was $ 3,900 on the BTC / USD pair hour chart.

The couple have settled above $ 3,920 and trading near the resistance of $ 3,950. BTC level 76.4% Fib% experienced the recent decrease of †<†<and $ 3,974 in height to $ 3,861 low. Currently it combines below $ 3,950, with a bullish angle. The current price action is positive and there are likely to be more earnings above $ 3,950 and $ 3,975. However, a successful break above $ 4,000 must be accelerated on the inside. The next key objection is about $ 4,180 and $ 4,200 levels.

In terms of disadvantage, the main support is close to the $ 3,900 level. It is also a bullish line of bullish and assisted bullish trend at $ 3,900 on the same chart. If BTC declined below the trend line, it could prove the support levels of $ 3,860 and $ 3,830. The final support is $ 3,800 and a simple 100-hour mobile average. Below the 100 hours SMA, the price could fall to $ 3,720.

BTC Bitcoin Price Analysis Chart

Looking at the chart, the bitcoin price is clearly trading with a comprehensive prejudice of $ 3,900 and $ 3,860 support. Therefore, there are high upsets of the resistance of $ 3,975 and $ 4,000. Buyers could aim for $ 4,200 if successful every hour is higher than the $ 4,000 barrier in the close season.

Technical indicators

MACD per hour – The MACD gains slow strength in the bullish zone.

RSI per hour (Comparative Strength Index) – The RSI for BTC / USD is currently much higher than the level 50, with a positive angle.

Large Support Level – $ 3,900 and then $ 3,860.

Large Resistance Level – $ 3,950. $ 3,975 to 4,000.

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