{"id":366999,"date":"2019-01-02T05:00:32","date_gmt":"2019-01-02T05:00:32","guid":{"rendered":"https:\/\/wncen.com\/?p=366999"},"modified":"2024-06-11T12:57:18","modified_gmt":"2024-06-11T12:57:18","slug":"bitcoin-price-watch-btc-remains-buy-on-dips-near-3700","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-watch-btc-remains-buy-on-dips-near-3700\/","title":{"rendered":"Bitcoin Price Watch: BTC Remains Buy On Dips Near $3,700"},"content":{"rendered":"
Key Points<\/p>\n
Bitcoin price is gaining bullish momentum against the US Dollar. BTC may dip a few points, but it remains supported near $3,700 and $3,625.<\/em><\/p>\n Recently, there was a downside reaction<\/a> from the $4,032 high in bitcoin price against the US Dollar. The BTC\/USD pair traded below the $3,900 and $3,820 support levels. Later, the price declined below the $3,700 level before buyers appeared near the $3,625 support. A base was formed and the price started a fresh upward move. It broke the $3,700 resistance and the 100 hourly simple moving average.<\/p>\n The price cleared the 23.6% Fib retracement level of the last decline from the $4,032 high to $3,625 low. Moreover, there was a break above a major bearish trend line with resistance at $3,710 on the hourly chart of the BTC\/USD pair. The price spiked above the 50% Fib retracement level of the last decline from the $4,032 high to $3,625 low. However, there was no proper close above the $3,820-3,850 resistance area<\/a>. At the outset, the price is correcting lower and it may dip a few points towards the $3,720 or $3,700 levels.<\/p>\n <\/p>\nBitcoin Price Analysis<\/h3>\n