US Dollar Bitcoin – Forecast
- Bitcoin price after a strong correction found support at $2040 against the US Dollar, and started a recovery.
- There is a monster ascending channel forming with support at $2260 on the 4-hours chart of BTC/USD (data feed from SimpleFX).
- The price may soon gain momentum and break $2700 for a move towards the last swing high at $2970.
US Dollar Bitcoin
Bitcoin price corrected lower from $2970 against the US Dollar, and now BTC/USD is back above $2400 and looking for a move towards $3000.
In the last weekly analysis, I highlighted the chances of Bitcoin price moving towards $3000 against the US Dollar. The price did break $2880 and moved towards $3000. However, there was no complete test of $3000, as the price traded as high as $2970. Sellers appeared and ignited a downside move below $2900. A correction wave started and the price fell sharply below the $2500 and $2300 supports.
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