Bitcoin Price Is Ready For Next Up Move!

 In Market News, Technical View, Trading Signals

Following the major price break out we had on April 2nd, BTC/USD continue to hold up and showing great support and Price strength that should lead to continue upside momentum.

In the past couple of days we have seen Bitcoin price correcting lower after trading above the $5,300 level against the US Dollar. On the down side we have seen price correcting below $5,000 support and testing next support level at $4,750. In order to continue upside momentum, we need to see price holding back above 5,050-5,100 price level.

The chart below shows the major price breakout on April 2nd and the major breakout above resistance line and 200 day moving average (red line). As we discussed above, due to the bullish chart pattern and price strength, we recommend our followers to BUY BTC/USD at current $5,000 level and use any pullback in price to add to position; as long as Bitcoin continue to hold above 3,900 price level. Our First price targets is at$5,560 and the second at $6,450.

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