{"id":371170,"date":"2019-02-12T06:45:51","date_gmt":"2019-02-12T06:45:51","guid":{"rendered":"https:\/\/ktsl888.com\/?p=371170"},"modified":"2024-06-11T13:33:28","modified_gmt":"2024-06-11T13:33:28","slug":"bitcoin-price-watch-btc-following-slow-and-steady-uptrend","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-watch-btc-following-slow-and-steady-uptrend\/","title":{"rendered":"Bitcoin Price Watch: BTC Following Slow and Steady Uptrend"},"content":{"rendered":"
Bitcoin price declined recently below the $3,580 support against the US Dollar. BTC found support near $3,550 and it seems like the market is preparing for the next move in the near term.<\/em><\/p>\n After trading above the $3,700 resistance, bitcoin price started a downside correction<\/a> against the US Dollar. The BTC\/USD pair topped at $3,745 and later corrected below $3,700 and $3,640. There was a break below the 23.6% Fib retracement level of the last leg from the $3,340 swing low to $3,745 high. More importantly, there was a break below the $3,600 and $3,580 support levels. The price traded close to the $3,550 support area, where buyers emerged.<\/p>\n There was a complete test of the 50% Fib retracement level of the last leg from the $3,340 swing low to $3,745 high. Besides, the 100 hourly simple moving average acted as a strong support and prevented additional losses below $3,540. The price bounced back, but the previous supports at $3,580 and $3,600 are acting as resistances. More importantly, there is a contracting triangle forming with resistance near $3,625 on the hourly chart of the BTC\/USD pair. A successful break above the $3,600 and $3,620 resistances could set the pace for more gains<\/a> in the near term. The next key resistances are $3,700 and $3,750. On the other hand, a close below $3,550 might open the doors for a drop to $3,500 or $3,440.<\/p>\n <\/p>\nBitcoin Price Analysis<\/h2>\n