{"id":367669,"date":"2019-01-09T07:00:22","date_gmt":"2019-01-09T07:00:22","guid":{"rendered":"https:\/\/wncen.com\/?p=367669"},"modified":"2024-06-11T12:56:48","modified_gmt":"2024-06-11T12:56:48","slug":"bitcoin-price-watch-btc-buyers-not-out-of-woods-yet","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-watch-btc-buyers-not-out-of-woods-yet\/","title":{"rendered":"Bitcoin Price Watch: BTC Buyers Not Out of Woods Yet"},"content":{"rendered":"<ul>\n<li>Bitcoin price remained well bid near the $3,980 and $3,940 supports against the US Dollar.<\/li>\n<li>Yesterday\u2019s highlighted key bullish trend line is intact with support at $3,990 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The price may dip a few points towards $3,950 before making another attempt to clear $4,100.<\/li>\n<\/ul>\n<p><em>Bitcoin price traded to a new weekly high above $4,100 against the US Dollar. BTC is correcting lower, but dips remain supported above $3,940 in the near term.<\/em><\/p>\n<h2>Bitcoin Price Analysis<\/h2>\n<p>Yesterday, we discussed about a <a href=\"https:\/\/wncen.com\/2019\/01\/08\/bitcoin-price-watch-btc-dips-remain-supported-above-3860\/\" target=\"_blank\" rel=\"noopener \">couple of important supports<\/a> near $3,940 for bitcoin price against the US Dollar. The BTC\/USD pair did correct lower recently, but it found support near $3,940. Later, the price recovered nicely above $4,000 and the $4,050 levels. Buyers even breached the last swing high at $4,084 and a new weekly high was formed at $4,113. However, buyers failed to retain strength, resulting in a drop below $4,080.<\/p>\n<p>The price even broke the $4,000 support and traded close to the $3,950 level. A swing low was formed at $3,966 and the price stayed above the 100 hourly simple moving average. More importantly, yesterday\u2019s highlighted key bullish trend line is intact with support at $3,990 on the hourly chart of the BTC\/USD pair. The pair is now trading above the 23.6% Fib retracement level of the recent decline from the $4,113 high to $3,966 low. The current price action is slightly bearish below $4,050. Therefore, there is a risk of a dip towards the $3,950 support to fill buy orders. On the upside, a break above the $4,040 and $4,050 is needed for <a href=\"https:\/\/wncen.com\/2019\/01\/07\/bitcoin-price-watch-btc-breaks-4k-more-gains-possible\/\" target=\"_blank\" rel=\"noopener \">more gains<\/a>. Besides, the 50% Fib retracement level of the recent decline from the $4,113 high to $3,966 low is at $4,040.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-367670\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/01\/Bitcoin-6.png?resize=1828%2C869\" alt=\"Bitcoin Price Analysis BTC Chart\" width=\"1828\" height=\"869\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/01\/Bitcoin-6.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/01\/Bitcoin-6.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/01\/Bitcoin-6.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/01\/Bitcoin-6.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/01\/Bitcoin-6.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/01\/Bitcoin-6.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/01\/Bitcoin-6.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<p>Looking at the <a href=\"https:\/\/www.tradingview.com\/symbols\/XBTUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">chart<\/a>, bitcoin price is well supported above the $3,940. Having said that, a break above the $4,040 and $4,080 levels is needed for more gains.<\/p>\n<h2>Technical indicators<\/h2>\n<p>Hourly MACD \u2013 The MACD for BTC\/USD is about to move back in the bearish zone, with a negative bias.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD just dipped below the 50 level, with a bearish angle.<\/p>\n<p>Major Support Level \u2013 $3,940<\/p>\n<p>Major Resistance Level \u2013 $4,080<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price remained well bid near the $3,980 and $3,940 supports against the US Dollar. Yesterday\u2019s highlighted key bullish trend line is intact with support at $3,990 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The price may dip a few points towards $3,950 before making another attempt to clear $4,100. Bitcoin price traded to a new weekly high above $4,100 against the US Dollar. BTC is correcting lower, but dips remain supported above $3,940 in the near term. Bitcoin Price Analysis Yesterday, we discussed about a couple of important supports near $3,940 for bitcoin price against the US Dollar. The BTC\/USD pair did correct lower recently, but it found support near $3,940. Later, the price recovered nicely above $4,000 and the $4,050 levels. Buyers even breached the last swing high at $4,084 and a new weekly high was formed at $4,113. However, buyers failed to retain strength, resulting in a drop below $4,080. The price even broke the $4,000 support and traded close to the $3,950 level. A swing low was formed at $3,966 and the price stayed above the 100 hourly simple moving average. More importantly, yesterday\u2019s highlighted key bullish trend line is intact with support at $3,990 on the hourly chart of the BTC\/USD pair. The pair is now trading above the 23.6% Fib retracement level of the recent decline from the $4,113 high to $3,966 low. The current price action is slightly bearish below $4,050. Therefore, there is a risk of a dip towards the $3,950 support to fill buy orders. On the upside, a break above the $4,040 and $4,050 is needed for more gains. Besides, the 50% Fib retracement level of the recent decline from the $4,113 high to $3,966 low is at $4,040. Looking at the chart, bitcoin price is well supported above the $3,940. Having said that, a break above the $4,040 and $4,080 levels is needed for more gains. Technical indicators Hourly MACD \u2013 The MACD for BTC\/USD is about to move back in the bearish zone, with a negative bias. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD just dipped below the 50 level, with a bearish angle. Major Support Level \u2013 $3,940 Major Resistance Level \u2013 $4,080<\/p>\n","protected":false},"author":67,"featured_media":344595,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119],"class_list":["post-367669","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc"],"acf":[],"yoast_head":"\n<title>Bitcoin Price Watch: BTC Buyers Not Out of Woods Yet<\/title>\n<meta name=\"description\" content=\"Bitcoin price traded to a new weekly high above $4,100 against the US Dollar. 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