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0:00:00 Bitcoin (BTC) Trend Overwhelmingly Positive As Bulls Eye $5,400
0:00:06 This update is brought to you by “CoinCheckup News Updates” and was originally published on “NewsBTC”.
0:00:12 Bitcoin price formed a double bottom pattern near $4,940 and climbed higher against the US Dollar.
0:00:20 Bulls pushed the price above the key $5,150 and $5,160 resistance levels.
0:00:27 Yesterday’s highlighted major bearish trend line was breached at $5,110 on the hourly chart of the BTC/USD pair.
0:00:36 The pair is currently trading in a positive zone and it could continue to rise towards $5,350 or $5,400.
0:00:45 Bitcoin price rebounded sharply above $5,200 against the US Dollar.
0:00:51 BTC is back in a decent uptrend and it seems like it could climb towards the key $5,400 resistance area.
0:00:58 Yesterday, bitcoin price revisited the $4,940 support area against the US Dollar.
0:01:05 The BTC/USD pair found a strong buying interest near $4,940 and later started a decent upward move.
0:01:14 It seems like the price formed a double bottom pattern near $4,940, which is a positive sign.
0:01:21 It broke the $5,100 resistance and the 100 hourly simple moving average to start a solid upward move.
0:01:28 Besides, there was a break above the 50% Fibonacci retracement level of the last drop from the $5,186 high to $4,943 low.
0:01:39 More importantly, yesterday’s highlighted major bearish trend line was breached at $5,110 on the hourly chart of the BTC/USD pair.
0:01:48 Finally, there was a break above the key $5,150-5,160 resistance area.
0:01:56 It opened the doors for more gains and the price traded above $5,200 and $5,250.
0:02:04 A new weekly high was formed at $5,275 and the price is currently consolidating gains.
0:02:11 An initial support is near $5,200 and the 23.6% Fibonacci retracement level of the recent wave from the $4,943 low to $5,275 high.
0:02:24 Thanks for watching this video.
If you wanna read the whole article you can go to CoinCheckup.com or go to: “NewsBTC”, who originally published this news update on their website.
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