{"id":369106,"date":"2019-01-24T06:45:44","date_gmt":"2019-01-24T06:45:44","guid":{"rendered":"https:\/\/wncen.com\/?p=369106"},"modified":"2024-06-11T13:33:09","modified_gmt":"2024-06-11T13:33:09","slug":"bitcoin-price-watch-btc-at-risk-of-more-losses-until-it-breaks-3600","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-watch-btc-at-risk-of-more-losses-until-it-breaks-3600\/","title":{"rendered":"Bitcoin Price Watch: BTC At Risk of More Losses Until It Breaks $3,600"},"content":{"rendered":"
Bitcoin price struggled to surpass the $3,600 pivot zone against the US Dollar. BTC is currently at a risk of more losses towards $3,480 as long as the price is below $3,620.<\/em><\/p>\n Yesterday, we saw a solid upward move above the $3,560 resistance in bitcoin price against the US Dollar. However, the BTC\/USD pair ran into a significant resistance area<\/a> near the $3,600 and $3,620 levels. There was a rejection pattern formed near the $3,615 level. The price also failed to settle above the 61.8% Fib retracement level of the last drop from the $3,708 swing high to $3,465 low. An intraday high was formed at $3,614 and later the price declined below the 100 hourly simple moving average.<\/p>\n The decline was such that the price traded below the $3,560 level. It tested the 50% Fib retracement level of the recent wave from the $3,441 low to $3,614 high. The current price action is clearly bearish below $3,580 and it seems like there could be more declines. The next stop for sellers<\/a> could be near the $3,500 level and the 61.8% Fib retracement level of the recent wave from the $3,441 low to $3,614 high. Below $3,500, the price is likely to test the $3,480 and $3,460 support levels. On the upside, there are many barriers near the $3,600 level. Moreover, this week\u2019s followed key bearish trend line is in place with resistance near $3,570 on the hourly chart of the BTC\/USD pair.<\/p>\n <\/p>\nBitcoin Price Analysis<\/h2>\n