• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Invest BTCTry
  • Join STC ICOBuy
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Invest BTCTry
  • Join STC ICOBuy
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Technical analysis

Bitcoin Price Weekly Analysis – BTC/USD To Surpass $4600

Aayush Jindal by Aayush Jindal
4 years ago
in Technical analysis, Bitcoin
Reading Time: 2min read
Bitcoin Price Weekly Analysis BTC USD
Advertisement

Key Points

  • Bitcoin price is back in the bullish zone and might soon break the $4600 level against the US Dollar.
  • There is a crucial contracting triangle pattern forming with support at $4320 on the 4-hours chart of BTC/USD (data feed from SimpleFX).
  • The pair might continue to move higher and remains a buy on dips towards $4300.

Bitcoin price is trading with a positive sentiment above $4200 against the US Dollar. BTC/USD might soon gain traction and break $4600.

Bitcoin Price Uptrend

There were decent swing moves in Bitcoin price towards the $4400 level against the US Dollar. The price corrected lower once from the $4460 level and traded towards the $4150 support area. The downside move was limited by a major support area above $4100. The price recovered and moved back above the 61.8% Fib retracement level of the last decline from the $4464 high to $4137 low.

It is a positive sign and might take the price further above $4500. Now, since the price is above the 76.4% Fib retracement level of the last decline from the $4464 high to $4137 low, there is a chance of an upside break above $4464. Once there is a break above $4464, the price might clear $4500 to test $4600. The 1.236 extension of the last decline from the $4464 high to $4137 low at $4542 is an intermediate resistance.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Bitcoin Price Weekly Analysis BTC USD

The price is likely to test the 1.618 extension of the last decline from the $4464 high to $4137 low at $4667 is the current trend remains intact. Buying dips remain a good option towards $4300 as long as the price is above a crucial contracting triangle pattern with support at $4320 on the 4-hours chart of BTC/USD.

Looking at the technical indicators:

4-hours MACD – The MACD is slowly moving in the bullish zone.

4-hours RSI (Relative Strength Index) – The RSI is now well above the 50 level.

Major Support Level – $4300

Major Resistance Level – $4540

 

Charts courtesy – SimpleFX

Tags: Bitcoin Analysisbitcoin priceBitcoin Price actionBitcoin price analysisBitcoin price chartbitcoin signalsbitcoin technical analysisbitcoin tradingblockchainbtcbtcusdbtcusd pricedaytradingOpiniontradingvirtual currency
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? 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

Ethereum

TA: Ethereum Corrects Losses, Here’s Why $2,300 Is A Major Hurdle

20 hours ago
Bitcoin

Bitcoin Price Nosedives $5K, Why BTC Could Extend Losses

23 hours ago
Bitcoin BTC

Why A Central Bank of China Official Said Bitcoin Has Major Role in the Future

1 day ago
Bitcoin BTC BTCUSD Dogecoin DOGE

How r/WallStreetBets Triggered DOGE Rally – Reasons for Bitcoin Sell-off

2 days ago
bitcoin price prediction

Bitcoin At $100,000: Estimating The Chance Of Six Figure BTC In 2021

3 days ago
bitcoin

Two Patterns, One Coin: Is Bitcoin Currently Bearish Or Bullish?

3 days ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
Bybit

Bybit

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Top ICOs

Student Coin

Student Coin

Review · Visit

Token sale

Holdefi

Holdefi

Review · Visit

Press Releases

Fly to the Moon and Win One of Three Tesla Cars with New Bitcasino Game, Live Crash

April 19, 2021

Cryptocurrency Exchange Gate.io Celebrates 8th Anniversary

April 19, 2021

eToro Adds Chainlink and Uniswap Amid Investor Surge For Crypto

April 19, 2021

Newsletter Signup


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.

COMPANY

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

Technical Analysis

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

LINKS

Auto Trading Software ▸

Cryptocurrency news

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

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Invest BTC
  • Join STC ICO

© 2020 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.