{"id":389691,"date":"2019-07-13T05:00:57","date_gmt":"2019-07-13T05:00:57","guid":{"rendered":"https:\/\/ktsl888.com\/?p=389691"},"modified":"2024-06-11T12:54:26","modified_gmt":"2024-06-11T12:54:26","slug":"bitcoin-price-btc-remains-vulnerable-risk-of-more-losses","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-btc-remains-vulnerable-risk-of-more-losses\/","title":{"rendered":"Bitcoin Price (BTC) Remains Vulnerable, Risk of More Losses"},"content":{"rendered":"
Bitcoin price is facing an uphill task with many hurdles near $12,000 against the US Dollar. BTC remains vulnerable as long as there is no close above the $12,000 pivot level.<\/em><\/p>\n Recently, we saw a major decline in bitcoin price below the $11,500 level against the US Dollar. The BTC\/USD pair even traded towards the $11,000 support level and settled below the 100 hourly simple moving average. A swing low was formed near the $10,990 level and recently there was an upside correction<\/a>. There was a break above the $11,500 level and the 23.6% Fib retracement level of the major drop from the $13,195 high to $10,990 low.<\/p>\n Moreover, the price even broke the $11,800 level and traded close to the $11,900 level. However, the upside remained capped below the $12,000 level. The price even failed to test the 50% Fib retracement level of the major drop from the $13,195 high to $10,990 low. Besides, the price remained below the 100 hourly SMA and $12,000. It is currently trading lower below the $11,800 level.<\/p>\n There is an ascending channel forming with support near $11,550 on the hourly chart of the BTC\/USD pair. The pair is currently trading near the channel support, below which the price is likely to test $11,500. If there are more losses, the price may even break the $11,400 level and extend losses. The main support is near the $11,000 level, below which the last line of defense is near the $10,880 level<\/a>.<\/p>\n On the upside, there are many hurdles near the $11,800 and $12,000 levels. To start a fresh increase, the price must close above the $12,000 resistance and the 100 hourly SMA. The next resistance could be near $12,250 and the 61.8% Fib retracement level of the major drop from the $13,195 high to $10,990 low.<\/p>\nBitcoin Price Analysis<\/h2>\n