{"id":369225,"date":"2019-01-25T06:45:56","date_gmt":"2019-01-25T06:45:56","guid":{"rendered":"https:\/\/wncen.com\/?p=369225"},"modified":"2024-06-11T13:33:10","modified_gmt":"2024-06-11T13:33:10","slug":"bitcoin-price-watch-btc-could-make-a-sustained-move-higher","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-watch-btc-could-make-a-sustained-move-higher\/","title":{"rendered":"Bitcoin Price Watch: BTC Could Make a Sustained Move Higher"},"content":{"rendered":"
Bitcoin price is slowly moving higher with positive signs against the US Dollar. BTC needs to overcome sellers near $3,580 and $3,600 for a sustained move higher in the near term.<\/em><\/p>\n After forming a support base<\/a> above the $3,500 level, bitcoin price started an upside correction against the US Dollar. The BTC\/USD pair gained momentum above the $3,545 and $3,550 resistance levels. There was also a close above the $3,550 level and the 100 hourly simple moving average. Besides, buyers pushed the price above this week\u2019s crucial bearish trend line with resistance at $3,555. However, the price is facing a lot of hurdles near the $3,585 and $3,600 resistance levels.<\/p>\n If there is a successful close above the $3,600 resistance, the price may continue to move higher. The next important resistances are $3,750 and $3,785, followed by the key $3,800 barrier. On the downside, an initial support is near the $3,550 level and the 100 hourly simple moving average<\/a>. Moreover, there is a connecting bullish trend line formed with support at $3,545 on the hourly chart of the BTC\/USD pair. Below the trend line, the 50% Fib retracement level of the last leg from the $3,440 low to $3,614 high is at $3,528. Therefore, there many supports on the downside above the $3,520 level.<\/p>\n <\/p>\nBitcoin Price Analysis<\/h2>\n