{"id":367900,"date":"2019-01-11T07:00:11","date_gmt":"2019-01-11T07:00:11","guid":{"rendered":"https:\/\/wncen.com\/?p=367900"},"modified":"2024-06-11T12:57:30","modified_gmt":"2024-06-11T12:57:30","slug":"bitcoin-price-watch-btc-turned-sell-on-rallies-below-3800","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-watch-btc-turned-sell-on-rallies-below-3800\/","title":{"rendered":"Bitcoin Price Watch: BTC Turned Sell On Rallies Below $3,800"},"content":{"rendered":"
Bitcoin price made a sharp bearish turn below $4,000 and $3,800 against the US Dollar. BTC is now in a bearish zone and rallies near $3,800 could face a strong selling interest.<\/em><\/p>\n Yesterday, we discussed a possible upside break<\/a> above $4,100 and $4,200 in bitcoin price against the US Dollar. However, the BTC\/USD pair failed to clear the key $4,080 resistance, resulting in a bearish reaction. The price declined heavily below the $4,000, $3,950 and $3,800 support levels. The decline was nasty as there was a close below $3,750 and the 100 hourly simple moving average.<\/p>\n During the decline, there was a break below a key bullish trend line with support at $4,000 on the hourly chart of the BTC\/USD pair. The pair fell significantly and tested the next key support at $3,550-3,570. Later, the price started consolidating losses and traded above $3,600. An initial resistance is near the 23.6% Fib retracement level of the recent decline from the $4,037 high to $3,549 low. It seems like it won\u2019t be easy for buyers<\/a> to push the price above $3,660 or $3,680. If they succeed, the next major resistance is at $3,740. Moreover, the 50% Fib retracement level of the recent decline from the $4,037 high to $3,549 low is at $3,793.<\/p>\n <\/p>\nBitcoin Price Analysis<\/h2>\n