[ad_1]
The price of bitcoins was a support base close to $ 3,370 and rebounded above $ 3,450 against the US dollar. (19659002) The pair seems to be approaching significant resistance close to $ 3,500 and $ 3,510.
The price of Bitcoin increases slowly with positive signs against the US dollar. However, the BTC / USD is now approaching a major hurdle near the resistance zone at $ 3,500.
Price Analysis
Last week, the price of bitcoin remained in a low zone below US $ 3,500 resistance against the US dollar.
The BTC / USD pair tested the $ 3,375 support area on some occasions and then bounced back. The pair surpbaded the resistance levels of $ 3,400 and $ 3,420 to begin a rebound. The price also traded above the Fibonacci withdrawal level of 23.6%.
In addition, a break above a triangle with resistance at $ 3,440 on the 4-hour chart of the BTC / USD pair. The price exceeded the resistance level of $ 3,475, but remained well below the simple moving average of 100 (4 hours).
In addition, there was no Fibonacci retraction level test of 50%. Buyers were unable to clean the $ 3,500 dredge area, which triggered bearish movements. At first, the price is trading near the $ 3,440 level, with support close to $ 3,420 and $ 3,400. If it is below $ 3,400, the price will likely test for $ 3,350 and $ 3,320.
The price of the BTC is clearly facing a strong resistance of nearly $ 3,500. MM 100. Although the price is trading below $ 3,500, there is a risk of negative short-term disruption.
Source link
