Bitcoin Price Weekly Analysis: BTC/USD Positioned in a bullish zone.

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Bitcoin Price Key Focuses

Bitcoin price picked up footing as of late and moved over the $6,550 resistance against the US Dollar.

There is a critical bullish pattern line set up with help at $6,650 on the 4-hours graph of the BTC/USD combine (information feed from Kraken).

The match may plunge a couple of focuses, however it stays upheld over the $6,650 and $6,550 levels.

Bitcoin price is situated pleasantly in a bullish zone above $6,550 against the US Dollar. BTC/USD is probably going to exchange towards the $6,900 and $7,000 levels in the close term.

Bitcoin Price Pattern

This previous week, there was a strong help framed close to the $6,220 level in bitcoin price against the US Dollar. The BTC/USD combine began an upside move and exchanged over the $6,420 and $6,550 resistance levels. There was likewise a nearby over the $6,550 level and the 100 basic moving normal (4-hours). Bitcoin price moved over the $6,650 level and is presently exchanging a bullish zone.

It exchanged near the $6,800 level and was seen battling close to the $6,780-6,800 zone. Ought to there be a break and close above $6,800, bitcoin price is probably going to quicken towards the $6,900 and $7,000 levels in the close term. Above $7,000, bitcoin price could even test the $7,200 level. On the drawback, an underlying help is close to the 23.6% Lie retracement level of the last wave from the $6,229 low to $6,789 high. In addition, there is a critical bullish pattern line set up with help at $6,650 on the 4-hours diagram of the BTC/USD combine. Along these lines, it appears as though there is a good support` shaped close $6,650.

BTCUSD Weekly Chart 26 August
BTCUSD Weekly Chart 26 August

Taking a gander at the diagram, Bitcoin price is situated pleasantly in a bullish zone over the $6,550 bolster. For whatever length of time that there is no nearby underneath $6,550 and $6,500, the price may keep on climbing higher.

Taking a gander at the specialized pointers:

4-hours MACD – The MACD for BTC/USD is marginally set in the bullish zone.

4-hours RSI (Relative Strength Index) – The RSI is currently well over the 50 level.

Real Support Level – $6,550

Real Resistance Level – $6,800

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