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

Bitcoin price is well supported on the downside near the $3,900 and $3,850 supports against the US Dollar.
The price is likely to accelerate gains above the $3,975 and $4,000 resistance levels.
There is a major bullish trend line formed with support at $3,900 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could dip a few points, but buyers are likely to protect declines below $3,850.

Ethereum (ETH) Price Rallies Above $260: Turned Buy On Dips
Thursday June 13, 2019

ETH price started a strong upward move after it broke the key $250 resistance against the US Dollar. The price even broke the $255 and $260 resistance levels to move into a positive zone....

The post Ethereum (ETH) Price Rallies Above $260: Turned Buy On Dips appeared first on 12bitplay - Bitcoin Play.

Bitcoin price is likely setting up for the next break above $4,000 against the US Dollar. BTC could gain bullish momentum towards $4,200 if it succeeds in surpassing the $4,000 resistance.
Bitcoin Price Analysis
Yesterday, we saw a minor downside correction from the $3,975 swing high in bitcoin price against the US Dollar. The BTC/USD pair traded below the $3,900 support level, but it found support near the $3,860 level. Later, it formed a support base above $3,860 and finally started a fresh upward move. It broke the 50% Fib retracement level of the recent decline from the $3,974 high to $3,861 low. Besides, there was a break above a connecting bearish trend line at $3,900 on the hourly chart of the BTC/USD pair.
The pair settled above the $3,920 level and traded close to the $3,950 resistance. BTC tested the 76.4% Fib retracement level of the recent decline from the $3,974 high to $3,861 low. It is currently consolidating below $3,950, with a bullish angle. The current price action is positive and it seems like there could be more gains above $3,950 and $3,975. However, a successful break above the $4,000 resistance is must for an upside acceleration. The next key resistance is near $4,180 and $4,200 levels.
On the downside, the main support is near the $3,900 level. There is also a major bullish trend line formed with support at $3,900 on the same chart. Should BTC decline below the trend line, it could test the $3,860 and $3,830 support levels. The final support is at $3,800 and the 100 hourly simple moving average. Below the 100 hourly SMA, the price could decline towards $3,720.

Analysts Expect Ethereum to Follow Litecoin’s Lead and Skyrocket in Near Future, Here’s Why
Saturday June 15, 2019

The aggregated crypto markets have been facing an influx of bullish momentum over the past several months that is showing few signs of slowing down anytime soon. This momentum is allowing altcoins, like Ethereum...

The post Analysts Expect Ethereum to Follow Litecoin’s Lead and Skyrocket in Near Future, Here’s Why appeared first on 12bitplay - Bitcoin Play.

Looking at the chart, bitcoin price is clearly trading with a bullish bias above the $3,900 and $3,860 supports. Therefore, there are high chances of more upsides above the $3,975 and $4,000 resistance. Buyers could aim for $4,200 if there is a successful hourly close above the $4,000 barrier in the near term.
Technical indicators
Hourly MACD – The MACD is slowly gaining strength in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently well above the 50 level, with a positive angle.
Major Support Level – $3,900 followed by $3,860.
Major Resistance Level – $3,950. $3,975 and 4,000.
The post Bitcoin Price Watch: BTC Readies For Bullish Acceleration Above $4,000 appeared first on NewsBTC.

Crypto Tidbits: Bakkt’s Bitcoin Futures Near, Facebook’s Libra Backed by Uber, Binance to Block US Clients
Saturday June 15, 2019

Another week, another round of Crypto Tidbits. It would be fair to say that the past seven days for Bitcoin (BTC) and its ilk have been rather spectacular. Aside from mostly bullish price action,...

The post Crypto Tidbits: Bakkt’s Bitcoin Futures Near, Facebook’s Libra Backed by Uber, Binance to Block US Clients appeared first on 12bitplay - Bitcoin Play.

You may also like...