Bitcoin price corrected lower recently, but stayed above the $3,880 support area. BTC is currently forming a crucial breakout pattern and it is likely to climb higher.
In the short term, there could be bearish moves, but BTC and altcoins like Ethereum (ETH), ripple (XRP), bitcoin cash (BCH), litecoin (LTC), binance coin (BNB), stellar (XLM) and EOS are likely to extend gains in the coming days.
- Bitcoin price is trading nicely above the $3,880 and $3,900 support levels.
- Ethereum price must break the $140 and $144 resistance level to gain further.
- Ripple price is trading inside a crucial breakout pattern with resistance near the $0.3300 level.
- EOS seems to be forming a solid support near the $3.45-3.50 zone.
- ORME gained more than 800% and CRO rallied close to 250% during the past 7 days.
Bitcoin Price Analysis
After trading above the $4,000 level, bitcoin price faced a strong resistance near the $4,040 level. Later, BTC/USD started a downside correction and traded below the $4,000 and $3,950 support levels.