Bitcoin gained pace above the $39,000 resistance against the US Dollar. BTC even tested $40,000 and might continue to rise in the near term.<\/em><\/p>\n

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Bitcoin started a decent increase above the $38,800 and $39,000 resistance levels.<\/li>\n
The price is now trading above $39,000 and the 100 hourly simple moving average.<\/li>\n
There was a break above a major bearish trend line with resistance near $38,475 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair might attempt more upsides above the $40,000 and $40,300 levels.<\/li>\n<\/ul>\n
Bitcoin Price Breaks Higher<\/h2>\n
Bitcoin price formed a strong base above the $37,500 level. BTC started a steady increase and was able to clear the $38,500 resistance zone<\/a>.<\/p>\n
There was a break above a major bearish trend line with resistance near $38,475 on the hourly chart of the BTC\/USD pair. The pair settled above the $39,000 and the 100 hourly simple moving average<\/a>. Finally, there was a spike above the $40,000 resistance zone.<\/p>\n
A high is formed near $40,029 and the price is now consolidating gains. It is trading well above the 23.6% Fib retracement level of the recent wave from the $37,507 swing low to $40,029 high.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
On the upside, bitcoin price is now facing resistance near the $40,000 level. The next key resistance could be near the $40,300 zone. A close above the $40,300 resistance could lift the market sentiment. In the stated case, the price could rise steadily towards the $41,000 level. The next major resistance is near $41,500.<\/p>\n
Dips Supported in BTC?<\/h2>\n
If bitcoin fails to clear the $40,000 resistance zone, it could start a downside correction. An immediate support on the downside is near the $39,500 level. The next major support is seen near the $39,000 level (the recent breakout zone).<\/p>\n
Any more losses might call for a test of the 50% Fib retracement level of the recent wave from the $37,507 swing low to $40,029 high. A downside break below the $38,750 support might put pressure on the bulls in the short-term. The next major support is $38,500 and the 100 hourly simple moving average.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is slowly losing pace in the bullish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well above the 60 level.<\/p>\n
Major Support Levels \u2013 $39,500, followed by $39,000.<\/p>\n
Major Resistance Levels \u2013 $40,000, $40,300 and $41,000.<\/p>\n<\/div>\n

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Bitcoin gained pace above the $39,000 resistance against the US Dollar. BTC even tested $40,000 and might continue to rise in the near term. Bitcoin started a decent increase above the $38,800 and $39,000 resistance levels. The price is now trading above $39,000 and the 100 hourly simple moving average. There was a break above […]<\/p>\n","protected":false},"author":1,"featured_media":25410,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[36,102,204,124,2925,697,1845],"class_list":{"0":"post-25409","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-market","8":"tag-bitcoin","9":"tag-breakout","10":"tag-change","11":"tag-price","12":"tag-shortterm","13":"tag-suggests","14":"tag-trend"},"_links":{"self":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/posts\/25409","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/comments?post=25409"}],"version-history":[{"count":0,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/posts\/25409\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/media\/25410"}],"wp:attachment":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/media?parent=25409"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/categories?post=25409"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/tags?post=25409"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}