COINPEDIA

Bitcoin price escalates, surging high, chances for pull down?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
In the early hours, the price fell off from the bullish trend , and moved toward $3700, failing to keep up the momentum. No sooner did it plunge to $37200, the price took a curve to surge from this point. Sticking to the current motion, Bitcoin might move up to $4000 and set a new high for the day, shortly. Failing to move further, the price may dip again near $3700.
A selling pressure as strengthening, however currently the MACD is to intersect and RSI is seen dropping to 54. So the second possibility of price dip is in handa for BTC .

Comment: Resistance level marks at $38867
Support level seen at $38701

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