This past week, there was a downside correction in bitcoin price below the $5,340 support against the US Dollar. The BTC/USD pair even broke the $5,200 support and the 55 simple moving average (4-hours). Finally, there was a break below the $5,000 level and the price traded as low as $4,899. Later, the price consolidated losses above $4,900 and recently climbed higher. It broke the $5,000 resistance and the 23.6% Fib retracement level of the last drop from the $5,491 high to $4,899 low. More importantly, there was a break above the $5,100 level and the 55 simple moving average (4-hours). The price spiked above the ... (full story)