Bitcoin Price Watch: BTC Likely Preparing For Bullish Ride

Bitcoin price is placed nicely above the $3,965 and $3,980 support levels against the US Dollar.There is a short term triangle forming with resistance at $4,045 on the hourly chart of the BTC/USD pair (data feed from Kraken).The price may continue to move higher towards $4,250 if there is a clear break above $4,080.Bitcoin price is gaining bullish momentum above $4,000 against the US Dollar. BTC remains supported on dips and it may soon climb above the $4,150 and $4,200 resistances.Bitcoin Price AnalysisYesterday, we discussed the key support at $3,940 for bitcoin price against the US Dollar. The BTC/USD pair stayed above the mentioned support and it slowly moved above $3,965 and $3,980. Buyers pushed the price above the $4,000 level. There was a break above the 23.6% Fib retracement level of the last drop from the $4,114 swing high to $3,965 swing low. It opened the doors for more…

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