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Batkinoin (BTC) Price watch: Rally breaks but not likely



  • Bitcoin's price climbed higher to $ 4,040 before adjusting the US Dollar.
  • The price fell below $ 4,000 and tested the key support area of ​​$ 3,940. with a resistance of $ 3,970 per hour on the BTC / USD pair (Kraken data channel).
  • The pair is currently moving lower, but remains well supported close to $ 3,940 and $ 3,920. $ 4,000 against the US dollar. BTC can go back as it trades over the $ 3900 turn-around area in the next sessions. The BTC / USD pair even broke the $ 4,020 level and traded at $ 4,040. The high level was formed at $ 4,041, and later the price was adjusted below $ 4020. Sellers pushed the price below the $ 4,000 and $ 3,980 levels. There was a break below 50% Fibos from the last leg of $ 3,884 low to $ 4,041
    high. Additionally, 61.8% of the final foot Fiboscope from $ 3,884 low to $ 4,041 high also found support. Later, the price went back above $ 3,960. There was a breakthrough between the bearish trend and resistance at $ 3,970 per hour on the BTC / USD pair. The pair climbed above the $ 4,000 level but failed to keep their winnings. If there are more losses, the price may find strong support close to the $ 3,920 and the 100-hour SMA. The next key support is $ 3,900, which was a decisive resistance earlier. On the upside, the initial resistance is $ 3,980 and $ 4,000. Successful closing over the $ 4,000 barrier can open the doors for more profits above the $ 4,040 and $ 4,050 levels. at a level of $ 4,000, but remains well supported by declines. Considering that if the price fails to stay above $ 3,920 and $ 3,900, it may return to the sword zone. The next big support is close to the $ 3,850 level.

    Technical Indicators:

    Hourly MACD – MACD is about to get back into the bear belt. USD has recently dropped below level 50, with a bearish angle.

    Base levels of support – $ 3,940, followed by $ 3,920.

    Basic Resistance Levels – $ 3,980, $ 4,000 and $ 4,040
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