Bitcoin price is sideways above the $12650 against the USD. The pair could gain momentum above $14550 to move past $15000 in the near term very soon.
Main Points...............
---BTC price traded lower this past week and tested the $12550 support against the US Dollar.
---There was a stop above a major bearish trend line with resistance level at $13850.
---The price has to break the $14550 level and to gain upper side momentum
In the last week the Bitcoin price was slightly bearish and moved to the range $14000 against USD. It moves again lower and touch the level $12650 and again moved upside , and trading above the $13500 level.
While the upper side, there was a break above a major bearish trend line with resistance at $13850 on the 4-hours chart of pair. The pair managed to move above the $13950 level. However, the upside move was protected by the $14500 level and the 100 simple moving average. Moreover, the 38% Fibonacci re-tracement level of the last decline from the $17000 high to $12650 low also acted as a resistance. It seems like the price has to move above the $14500 level and the 100 simple moving average to gain upside momentum
.