• 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
  • Buy SilverTry
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
  • Buy SilverTry
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 – Can BTC/USD Break $12,000?

Aayush Jindal by Aayush Jindal
3 years ago
in Technical analysis, Bitcoin
Reading Time: 2min read
bitcoin price
Advertisement

Key Points

  • Bitcoin price is slowly moving higher and is currently trading above $11,000 against the US Dollar.
  • There was a break above a monster bearish trend line with resistance at $11,000 on the 4-hours chart of the BTC/USD pair (data feed from SimpleFX).
  • The price is likely forming a solid support base above the $10,500 level, which can be seen as a pivot level.

Bitcoin price is preparing for further gains above $12,000 against the US Dollar. BTC/USD is now well supported on the downside at $10,500 and $10,200.

Bitcoin Price Trend

It seems like there is a decent support base forming above $10,000 in bitcoin price against the US Dollar. The price formed a bottom at $9,781 and it later started an upside move. BTC traded above the 23.6% Fib retracement level of the last drop from the $12,886 high to $9,781 low. It opened the doors more gains and the price was able to move above the $11,000 resistance.

More importantly, there was a break above a monster bearish trend line with resistance at $11,000 on the 4-hours chart of the BTC/USD pair. The pair seems to be back in the bullish zone with a break above the $11,000 resistance. It is currently trading just above the 50% Fib retracement level of the last drop from the $12,886 high to $9,781 low. The next major resistance is around the $12,000 level and the 100 simple moving average (4-hours). A successful close above the $12,000 level could further spark upsides in bitcoin. Above $12,000, the next important barrier for buyers is at $12,800.

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

On the downside, there is a bullish trend line with support at $10,500. Overall, the price remains well supported above $10,500 and it is poised for further gains.

Looking at the technical indicators:              

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

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

Major Support Level – $10,500

Major Resistance Level – $12,000

 

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

uniswap airdrop lottery winner

Uniswap Airdop Value Reaches $13,000 For Those That Didn’t Sell Early

9 mins ago
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin Holds $50,000 on Global Corporate FOMO; What to Expect?

7 hours ago
Uniswap’s UNI

Charted: Uniswap’s UNI Enters Top 10, Why It Could Soon Test $42

13 hours ago
Ethereum

TA: Ethereum Rallies Above $1,700, Why ETH Could Soon Test $1,800

15 hours ago
Bitcoin

TA: Bitcoin Turns Attractive Above $50K, Why BTC Extend Its Rally

17 hours ago
Ethereum

Ethereum Climbs above $1,600, Why ETH Could Soon Test $1,720

2 days ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

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

Press Releases

BTCS Now Producing Revenue from all 100 Ethereum 2.0 Nodes

March 8, 2021

Router Protocol and Polygon Partners With DFyn to Launch L2 GalaxyFarm

March 8, 2021

Get the Latest Crypto News, Trends and Insights at Interactivecrypto

March 8, 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
  • Buy Silver

© 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.