{"id":355538,"date":"2018-10-29T09:28:16","date_gmt":"2018-10-29T09:28:16","guid":{"rendered":"https:\/\/ktsl888.com\/?p=355538"},"modified":"2024-06-11T13:32:13","modified_gmt":"2024-06-11T13:32:13","slug":"bitcoin-price-watch-btc-usd-closing-in-towards-next-move","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-watch-btc-usd-closing-in-towards-next-move\/","title":{"rendered":"Bitcoin Price Watch: BTC\/USD Closing In Towards Next Move"},"content":{"rendered":"
Key Points<\/p>\n
Bitcoin price is struggling to move above $6,420 against the US Dollar. BTC\/USD could react to the downside and it might even rested the $6,355 support.<\/em><\/p>\n During the past three sessions, there were mostly range moves<\/a> above the $6,385 support in bitcoin price against the US Dollar. The BTC\/USD pair formed a decent support near the $6,385 level, but it struggled to gain traction above the $6,420 and $6,430 levels. The last swing low was formed at $6,386 before the price moved higher. It spiked above the 50% Fib retracement level of the last decline from the $6,449 high to $6,386 low.<\/p>\n However, there was no close above the $6,425 level. The price was also rejected near the 61.8% Fib retracement level of the last decline from the $6,449 high to $6,386 low. At the moment, the price is trading near the $6,400 level and below the 100 hourly simple moving average<\/a>. More importantly, there is a crucial contracting triangle formed with resistance at $6,420 on the hourly chart of the BTC\/USD pair. Therefore, the pair is likely to make the next move either above $6,420 or below $6,385. If there is an upside break, the price may revisit the $6,450 level.<\/p>\n <\/p>\nBitcoin Price Analysis<\/h3>\n