Bitcoin Price Watch: BTC In Clear Uptrend Towards $4,000 ByAayush JindalPRO INVESTOR Updated: 24 July 2021 DisclosureWe sometimes use affiliate links in our content, when clicking on those we might receive a commission – at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy. Join Our Telegram channel to stay up to date on breaking news coverage Key Points Bitcoin price extended upsides and traded above the $3,580 and $3,650 resistances against the US Dollar. There is a key bullish trend line formed with support at $3,640 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price remains in a solid uptrend and it could rise towards $4,000 or even $4,200. Bitcoin price gained pace above the $3,650 resistance against the US Dollar. BTC traded close to $3,800 and it looks set for further gains towards $4,000 or $4,200. Bitcoin Price Analysis Yesterday, we saw a nice bullish move above $3,400 in bitcoin price against the US Dollar. The BTC/USD pair traded towards the $3,600 level and later corrected lower. However, dips remained supported and the price bounced back from the $3,440 support. Buyers regained strength and pushed the price above the $3,580 and $3,650 resistance levels. It traded to a new weekly high at $3,776 and currently consolidating gains. An initial support is near $3,700 and the 23.6% Fib retracement level of the last wave from the $3,440 low to $3,776 high. Below $3,700, there are many supports near the $3,600 level. There is also a key bullish trend line formed with support at $3,640 on the hourly chart of the BTC/USD pair. Besides, the 50% Fib retracement level of the last wave from the $3,440 low to $3,776 high is around $3,608. Therefore, if there is a downside correction, the price might find support near $3,640 or $3,600. The next main support is at $3,300 and the 100 hourly simple moving average. Looking at the chart, bitcoin price is clearly following a solid uptrend above $3,580. To the topside, a break above the $3,770 and $3,800 resistance could clear the path towards $4,000 or $4,200. Looking at the technical indicators: Hourly MACD – The MACD for BTC/USD is placed nicely in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI is currently well above the 65 level. Major Support Level – $3,600 Major Resistance Level – $3,800 The post Bitcoin Price Watch: BTC In Clear Uptrend Towards $4,000 appeared first on NewsBTC. Join Our Telegram channel to stay up to date on breaking news coverage