{"id":367577,"date":"2019-01-08T07:00:27","date_gmt":"2019-01-08T07:00:27","guid":{"rendered":"https:\/\/wncen.com\/?p=367577"},"modified":"2024-06-11T12:57:07","modified_gmt":"2024-06-11T12:57:07","slug":"bitcoin-price-watch-btc-dips-remain-supported-above-3860","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-watch-btc-dips-remain-supported-above-3860\/","title":{"rendered":"Bitcoin Price Watch: BTC Dips Remain Supported Above $3,860"},"content":{"rendered":"
Bitcoin price corrected lower below $4,000 against the US Dollar. BTC is now trading above the $3,940 and $3,900 support levels and it could bounce back.<\/em><\/p>\n Yesterday, we saw a nice upward move<\/a> above $4,000 in bitcoin price against the US Dollar. The BTC\/USD pair gained bullish momentum and traded towards the $4,100 level. A new weekly high was formed at $4,084 and later the price started a downside correction. It moved below the $4,000 and $3,980 support levels. Moreover, there was a break below the 23.6% Fib retracement level of the recent upside from the $3,759 low to $4,084 high.<\/p>\n The price traded close to the $3,900 level and tested the $3,920 support. There was no complete test of the 50% Fib retracement level of the recent upside from the $3,759 low to $4,084 high. At the outset, the price is consolidating above the $3,950 level. On the downside, the main support is near $3,950. There is also a major bullish trend line formed with support at $3,940 on the hourly chart of the BTC\/USD pair. Below the trend line, the next key support is near the $3,920 level. On the upside, there is a connecting bearish trend line with resistance at $4,000 on the same chart. Therefore, the price could make the next move<\/a> either above $4,000 or below $3,920 in the near term.<\/p>\n <\/p>\nBitcoin Price Analysis<\/h2>\n