TA: Bitcoin Price Sets New ATH, Why BTC Bulls Could Aim $40K

TA: Bitcoin Price Sets New ATH, Why BTC Bulls Could Aim $40K


Bitcoin price started another rally and broke the $35,500 resistance against the US Dollar. BTC traded to a new all-time high near $37,400 before starting a consolidation.

Bitcoin is up over 10% and it broke the $35,500 and $36,500 resistance levels. The price traded to a new all-time high close to $37,400 it is still well above the 100 hourly simple moving average. There is a major bullish trend line forming with support near $35,880 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to continue higher towards $38,500 and $39,800 if the current trend remains intact. Bitcoin Price Rallies 10%

After a minor decline, bitcoin price regained strength above the $34,000 level. BTC started another strong increase and it broke many hurdles near the $35,500 and $36,500 resistance levels.

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The price even spiked above the $37,000 level and settled well above the 100 hourly simple moving average. It traded

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