Bitcoin Technical Analysis 10/02/19 – The price can go up to $ 4,000

The price of bitcoin was an important support close to the level of US $ 3,345 and strongly surged against the US dollar.

There was a break above a downtrend line with a resistance of $ 3,380 on the chart.

The pair surpbaded resistance levels of $ 3,400 and $ 3,500 to enter a bull market.

BTC / USD May Continue to Climb to

Price Analysis

Last week, the price of bitcoin fell to $ 3,345 and $ 3,320 against American dollar.

The BTC / USD pair was a solid base near the $ 3,345 level and then began a strong upward movement. Buyers pushed the price above several resistors, such as $ 3,380, $ 3,400, $ 3,460, $ 3,500 and $ 3,600.

There was even a lock higher than the resistance of $ 3,500 and the simple moving average of 100 (4 hours). Obviously, a support base was formed for a rebound, which could exceed $ 3,700.

During the bullish period, there was a break above a crucial low trend line with a resistance of $ 3,380 on the chart. 4 hours of the BTC / USD pair. The pair has exceeded $ 3,600 and $ 3,700.

A maximum was raised at $ 3,745, then the price was corrected to a low level. It has traded below the Fibonacci withdrawal level of 23.6%. However, there are many supporters down, starting at $ 3,575.

The next major support is close to the $ 3,550 level and represents the Fibonacci retraction level of 50%.

Looking at the graph, the price of the BTC clearly forms a consolidation scheme higher than the $ 3,575 support. There could be back-and-forth movements, but later the price could exceed $ 3,750. The next stops for buyers could be $ 3,800, $ 3,880 and $ 4,000 over the next few days.

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