RATE Group | Bitcoin Price Watch: BTC In Clear Uptrend Towards $4,000
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Bitcoin Price Watch: BTC In Clear Uptrend Towards $4,000

19 Dec Bitcoin Price Watch: BTC In Clear Uptrend Towards $4,000

Posted at 08:27h in Bitcoin News by

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Key Points

  • Bitcoin price extended upsides and traded above the $3,580 and $3,650 resistances against the US Dollar.
  • There is a key bullish trend line formed with support at $3,640 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The price remains in a solid uptrend and it could rise towards $4,000 or even $4,200.

Bitcoin price gained pace above the $3,650 resistance against the US Dollar. BTC traded close to $3,800 and it looks set for further gains towards $4,000 or $4,200.

Bitcoin Price Analysis

Yesterday, we saw a nice bullish move above $3,400 in bitcoin price against the US Dollar. The BTC/USD pair traded towards the $3,600 level and later corrected lower. However, dips remained supported and the price bounced back from the $3,440 support. Buyers regained strength and pushed the price above the $3,580 and $3,650 resistance levels. It traded to a new weekly high at $3,776 and currently consolidating gains.

An initial support is near $3,700 and the 23.6% Fib retracement…

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