{"id":369452,"date":"2019-01-28T06:45:06","date_gmt":"2019-01-28T06:45:06","guid":{"rendered":"https:\/\/wncen.com\/?p=369452"},"modified":"2024-06-11T12:56:59","modified_gmt":"2024-06-11T12:56:59","slug":"bitcoin-price-watch-btc-could-extend-decline-to-3-2k-3-0k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-watch-btc-could-extend-decline-to-3-2k-3-0k\/","title":{"rendered":"Bitcoin Price Watch: BTC Could Extend Decline To $3.2K-3.0K"},"content":{"rendered":"
Bitcoin price moved into a bearish zone below $3,500 against the US Dollar. BTC might extend the current decline towards the next key support at $3,200 or even $3,000.<\/em><\/p>\n This past week, we discussed a couple of important hurdles<\/a> near $3,600 and $3,650 for bitcoin price against the US Dollar. The BTC\/USD pair failed to surpass the $3,650 resistance and finally reacted to the downside. There was a sharp decline below the $3,520 support, which dragged Ethereum<\/a>, ripple<\/a> and altcoins lower. The price even broke the $3,480 support level and the 100 hourly simple moving average. During the decline, there was a break below a connecting support trend line at $3,485. It opened the doors for more losses below $3,450.<\/p>\n A new weekly low was formed at $3,403 and the price moved into a bearish zone. If there is an upside correction, the price may find offers near $3,450. The next resistance is the 23.6% Fib retracement level of the last drop from the $3,672 high to $3,403 low. The main resistance is near $3,500 and a bearish trend line on the hourly chart of the BTC\/USD pair. Therefore, if the pair corrects higher, it is likely to face sellers near $3,450 or $3,500.<\/p>\n <\/p>\nBitcoin Price Analysis<\/h2>\n