Bitcoin price is up 1.7% for the week heading into Easter weekend. Let’s take a look at the price action to see if BTC/USD will press higher.

Bitcoin Price 4-Hour Chart

The 4-hour bitcoin price chart paints a picture of consolidation preceding a definitive move. With weekly highs of $5308 hit overnight and lows of $4950 rejected on Monday, bitcoin trading today at $5250 illustrates bitcoin’s intentions are to move higher in the short term.

The weekly opening of $5167 is now the first line of defense for the bulls. This level was broken and retested yesterday before being sharply rejected preceding a move to new weekly highs – a good sign for higher prices in the back end of the week.

If bitcoin price 00 can establish itself above $5150, it is probable that the monthly and yearly high of $5465 will be tested before the end of April.

The 4-hour MAC-D is above zero and still crossed bullish above its signal line. But it is printing lower highs on the histogram, which does imply that the move overnight is running out of…

Click to continue reading on its source location…