{"id":369386,"date":"2019-01-27T06:00:58","date_gmt":"2019-01-27T06:00:58","guid":{"rendered":"https:\/\/wncen.com\/?p=369386"},"modified":"2024-06-11T13:33:11","modified_gmt":"2024-06-11T13:33:11","slug":"bitcoin-price-weekly-analysis-btc-trading-near-make-or-break-levels","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-weekly-analysis-btc-trading-near-make-or-break-levels\/","title":{"rendered":"Bitcoin Price Weekly Analysis: BTC Trading Near Make-or-Break Levels"},"content":{"rendered":"
Bitcoin price made a few bullish breakout attempts, but it failed against the US Dollar. BTC\/USD must stay above $3,500 and $3,480 to avoid a downside break in the coming days.<\/em><\/p>\n This past week, bitcoin price remained nicely supported<\/a> above the $3,500 level against the US Dollar. The BTC\/USD pair started a recovery and moved above the $3,550 and $3,600 resistance levels. There was also a break above the $3,620 pivot level. Buyers pushed the price above the 50% Fib retracement level of the last decline from the $3,725 swing high to $3,443 low. However, the upside move was capped by the $3,650 resistance and the 100 simple moving average (4-hours). As a result, the price trimmed gains and settled below the $3,600 level.<\/p>\n At the moment, the price is trading well below the $3,600 level and the 100 simple moving average (4-hours). It traded as high as $3,673 and declined below the $3,575 level. There was a test of the 61.8% Fib retracement level of the last wave from the $3,443 low to $3,673 high. More importantly, there is a major ascending channel formed with resistance at $3,650 on the 4-hours chart of the BTC\/USD pair. If there is a downside break below the channel support and $3,500, the price may test $3,480. Below the range support at $3,480<\/a>, the price may move into a bearish zone towards $3,200.<\/p>\n <\/p>\nBitcoin Price Analysis<\/h2>\n