TA: Bitcoin Resumes Rally, Why BTC Could Accelerate Above $40K
Bitcoin price found support near $36,400 and it started a fresh increase against the US Dollar. BTC is showing positive signs and it could rally further above $40,000. Bitcoin remained well bid above the $36,400 and $36,500 support levels. The price is now trading well above $37,000 and the 100 hourly simple moving average. There is a crucial bullish trend line forming with support near $36,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to gain bullish momentum above the $40,000 resistance zone in the near term. Bitcoin Price Gains Pace Bitcoin....
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The Bitcoin price rally is set to resume after a deep correction during the past days. The correction may still pull price down but only marginally. Analysis explores the state of trend and considers upside price targets as well as what to expect in the coming days. Writer's Note: This article's title may be better worded as "Bitcoin Price Rally Basing" to acknowledge the base building phase now in progress. However, the title was set at the time of publication and cannot be changed (after the fact) due to SEO considerations. Bitcoin Price Rally Resumes. Summary. Comments. Bitcoin Price....
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Continued rise in network's usage could accelerate the price rally.