{"id":380007,"date":"2019-04-28T05:00:42","date_gmt":"2019-04-28T05:00:42","guid":{"rendered":"https:\/\/ktsl888.com\/?p=380007"},"modified":"2024-06-11T12:49:51","modified_gmt":"2024-06-11T12:49:51","slug":"bitcoin-btc-price-buy-dips","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-btc-price-buy-dips\/","title":{"rendered":"Bitcoin (BTC) Price Eyeing Last Line Of Defense: Buy Dips?"},"content":{"rendered":"
Bitcoin price started consolidating losses after a strong decline against the US Dollar. BTC is likely to recover above $5,200 and $5,280 in the near term unless the $5,000 gives way.<\/em><\/p>\n This past week, there was a significant rejection<\/a> in bitcoin price near the $5,660 level against the US Dollar. The BTC\/USD pair started a strong downward move below $5,400 after tether\u2019s drama. The price tumbled below the key $5,280 and $5,200 support levels. There was even a spike below $5,000, plus a close below the 100 simple moving average (4-hours). A swing low was formed near the $4,910 level and recently the price recovered above $5,000 and $5,050.<\/p>\n At the moment, the price is testing the 50% Fib retracement level of the last drop from the $5,510 swing high to $4,910 swing low. However, the $5,220 area and the 100 simple moving average (4-hours) are acting as hurdles. Above $5,220, there is a major resistance near $5,280 and a connecting bearish trend line. The 61.8% Fib retracement level of the last drop from the $5,510 swing high to $4,910 swing low is also near the $5,280 level. A successful close above the $5,280 level might trigger a decent recovery in the near term.<\/p>\n On the downside, there is a major bullish trend line in place with support at $5,080 on the 4-hours chart of the BTC\/USD pair. The trend line support near $5,080 is very important, below which the price could test $5,000. If there is a daily close below $5,000, the price is likely to move further into a bearish zone<\/a>. In the mentioned case, the price will most likely test $4,800 or $4,750.<\/p>\n <\/p>\nBitcoin Price Weekly Analysis (BTC)<\/h2>\n