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Bitcoin Price Key Highlights
- The Bitcoin price continued to rocket higher and our bullish bias paid off in the near term.
- There are many positive signs emerging for the price and the idea of buying dips is still a good option.
Bitcoin price traded above the $300 level and it looks like it might test the $350 area if buyers stay in control.
Buyers to take the price higher?
The Bitcoin price surged higher this past week, as the 4-hours chart clearly speaks a lot about how buyers were in control. The price broke a monster resistance area of $300 and the price even closed the week above the mentioned area. A new weekly high was formed around $335 where there is a minor resistance noted. There is a bullish trend line formed on the 4-hours chart, which might act as a support if the price moves lower from the current levels.
The price already corrected once towards the downside and tested the 38.2% Fib retracement level of the last leg from the $280 low to $334 high. The Middle Bollinger Band was also aligned around the stated area and prevented the downside. If the price has already completed a correction once, then there is chance that it may break the last swing high and head towards the next resistance area of $350. If buyers manage to take the price further higher, then you never know the price might even challenge the $400 barrier in the near term.
On the downside, the 38.2% Fib level is a pivot area, followed by the 50% Fib level and the trend line support area.
Intraday Support Level – $310
Intraday Resistance Level – $335
The 4H RSI and MACD are in the bullish zone, which means there can be another move higher.
Charts courtesy of Trading View
tnizzle 
Elise 
How much success have people had with buying and selling bitcoin? I bought $200 worth when it was at $314/bitcoin, and I’m curious how much people generally lose in fees and all that and what’s the easiest, cheapest, and fastest way to sell bitcoin.
Understandable, thanks.
I hope you trust my analysis now 🙂 Price is above $350…
I hope you bought some. If not, you still can. This ride is only JUST GETTING STARTED. Hold on tight folks!!