{"id":379869,"date":"2019-04-26T06:30:49","date_gmt":"2019-04-26T06:30:49","guid":{"rendered":"https:\/\/ktsl888.com\/?p=379869"},"modified":"2024-06-11T13:39:33","modified_gmt":"2024-06-11T13:39:33","slug":"bitcoin-btc-price-tumbles-trend-change-or-correction","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-btc-price-tumbles-trend-change-or-correction\/","title":{"rendered":"Bitcoin (BTC) Price Tumbles: Is This Trend Change or Correction?"},"content":{"rendered":"
Bitcoin price declined heavily below $5,400 and $5,250 against the US Dollar. BTC is currently correcting higher, but it is likely to face a strong selling interest near $5,250 and $5,380.<\/em><\/p>\n The past two sessions were eventful since there were heavy moves in bitcoin price below $5,400 against the US Dollar. After consolidating for a few hours above the $5,400 support<\/a>, the BTC\/USD pair started a strong decline. There were two nasty red candles formed and the price broke the $5,250 and $5,120 support levels. The decline started after there was a break below a major bullish trend line with support at $5,410 on the hourly chart.<\/p>\n The pair settled below the $5,250 level and the 100 hourly simple moving average. Sellers took control and pushed the price below the $5,000 support as well. A new weekly swing low as formed at $4,909 and the price is currently correcting higher. It already moved above the 50% Fib retracement level of the recent decline from the $5,513 high to $4,909 swing low. However, the $5,280 level acted as a strong resistance<\/a>. Besides, the 61.8% Fib retracement level of the recent decline from the $5,513 high to $4,909 swing low also stopped gains.<\/p>\n At the moment, the price is consolidating near $5,180, with hurdles near $5,250, $5,280 and $5,300. Above $5,300, the main resistance is near the $5,380 level (the previous support). To start a strong upward move, the price must climb back above $5,400a and the 100 hourly simple moving average. If bitcoin continues to struggle near the $5,300 and $5,380 levels, it could resume its decline.<\/p>\n <\/p>\nBitcoin Price Analysis<\/h2>\n