• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Bitcoin Price Retests $27K Following Fed Rate Decision
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Bitcoin Price Retests $27K Following Fed Rate Decision
technical analysis bitcoin

Bitcoin Price Watch: BTC Could Rally Above $4,000 If It Breaks $3,900

Aayush Jindal by Aayush Jindal
4 years ago
in Technical analysis
Reading Time: 2 mins read
Advertisement
  • Bitcoin price declined sharply below the $3,750 support and tested $3,650 against the US Dollar.
  • The price bounced back from the $3,653 low and broke the key $3,750 resistance.
  • There was a break above a major bearish trend line with resistance at $3,785 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair is likely to gain bullish momentum above the $3,860 and $3,900 resistance levels.

Bitcoin price tumbled below $3,700 and later recovered sharply against the US Dollar. BTC is pointing bullish signals and it could continue to rise towards $4,000 in the near term.

Bitcoin Price Analysis

Yesterday, we discussed the chances of more losses if bitcoin price breaks the $3,750 support against the US Dollar. The BTC/USD pair did break the $3,750 support and declined below the $3,700 level. There was a sharp downward move and the price tested the $3,650 support. A new weekly low was formed at $3,653 and later the price bounced back. The recent recovery was strong as the price climbed above the $3,750 and $3,760 resistance levels.

There was a break above the 61.8% Fib retracement level of the recent decline from the $3,827 high to $3,653 low. More importantly, there was a break above a major bearish trend line with resistance at $3,785 on the hourly chart of the BTC/USD pair. It has opened the doors for more gains above the $3,800 level. BTC is currently trading above the 76.4% Fib retracement level of the recent decline from the $3,827 high to $3,653 low. Therefore, there are chances of more gains above the last swing high at $3,827. An immediate resistance is at $3,830 and the 100 hourly simple moving average.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

If there is a break above the 100 hourly SMA, the price could climb towards the $3,860 resistance. A successful close above $3,860 and $3,900 will most likely set the tone for a rally towards the $4,000 resistance. In the mentioned case, the price may even climb above $4,050. On the other hand, an initial support is at $3,760, below which the price could test $3,700.

Bitcoin Price Analysis BTC Chart

Looking at the chart, bitcoin price is slowly moving into the positive zone above $3,800. However, it must gain momentum above the $3,860 and $3,900 resistances to climb further higher. In the short term, there could be range moves before the price makes the next move either above $3,900 or dive back to $3,700.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Technical indicators

Hourly MACD – The MACD is slowly gaining momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD climbed back above the 50 level.

Major Support Level – $3,750 followed by $3,720.

Major Resistance Level – $3,830, $3,860 and 3,900.

Tags: bitcoinbtc
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets.

Related Posts

Cardano Rally

Cardano (ADA) Price Saw Technical Breakout: Big Reaction From Bulls Imminent

8 hours ago
Ethereum

Ethereum Price Rally To $2,000 On The Horizon, As Bears Show Weak Hands

9 hours ago
Bitcoin

Bitcoin Price Trims Losses But Remains In Range, What Could Trigger Fresh Rally

10 hours ago
Aave

How Soon Can We Expect Aave To Target $80?

16 hours ago
Tron And HT Plummets

Tron (TRX), Huobi Token (HT) Plummet Nearly 10% In A Day, Here’s Why

1 day ago
AVAX Price Could Rally

AVAX Price Prediction: Avalanche Bulls Aim $20 or Higher

1 day ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Litecoin (LTC) and Dogecoin (DOGE) Drowning in Controversy While TMS Network (TMSN) Steals the Show

March 24, 2023

The Best Altcoins To Get In Early 2023: TMS Network (TMSN), TRON (TRX) and Mask Network (MASK)

March 24, 2023

The Web3.Conference will gather Web3 builders & creators this May in Amsterdam

March 24, 2023

LFi Unveils LFi Smartphone, Providing Unprecedented Access to Decentralized Financial Opportunities

March 24, 2023

Cardano (ADA) and Polkadot (DOT) Prices Reach a Crucial Juncture, While TMS Network (TMSN) Attracts Investors in Stage 2 of Presale

March 24, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins
  • Play Finance

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.