{"id":370150,"date":"2019-02-03T05:00:05","date_gmt":"2019-02-03T05:00:05","guid":{"rendered":"https:\/\/wncen.com\/?p=370150"},"modified":"2024-06-11T13:33:19","modified_gmt":"2024-06-11T13:33:19","slug":"bitcoin-price-weekly-analysis-btc-rebound-approaching-crucial-resistance","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-weekly-analysis-btc-rebound-approaching-crucial-resistance\/","title":{"rendered":"Bitcoin Price Weekly Analysis: BTC Rebound Approaching Crucial Resistance"},"content":{"rendered":"<ul>\n<li>Bitcoin price formed a support base near $3,370 and recovered higher above $3,450 against the US Dollar.<\/li>\n<li>There was a break above a major contracting triangle with resistance at $3,440 on the 4-hours chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair seems to be approaching a couple of important resistances near $3,500 and $3,510.<\/li>\n<\/ul>\n<p><em>Bitcoin price is slowly moving higher with positive signs against the US Dollar. However, BTC\/USD is now approaching a significant hurdle near the $3,500 resistance zone.<\/em><\/p>\n<h2>Bitcoin Price Analysis<\/h2>\n<p>This past week, bitcoin price remained in a <a href=\"https:\/\/wncen.com\/2019\/01\/31\/bitcoin-price-watch-btc-rebound-reaching-crucial-juncture\/\" target=\"_blank\" rel=\"noopener \">bearish zone<\/a> below the $3,500 resistance against the US Dollar. The BTC\/USD pair tested the $3,375 support area on the couple of occasions and later bounced back. The pair moved above the $3,400 and $3,420 resistance levels to start a decent recovery. The price also traded above the 23.6% Fib retracement level of the last decline from the $3,673 high to $3,346 low. There was a positive price action developed above the $3,440 resistance level.<\/p>\n<p>Moreover, there was a break above a major contracting triangle with resistance at $3,440 on the 4-hours chart of the BTC\/USD pair. The price spiked above the $3,475 resistance level, but it remained well below the 100 simple moving average (4-hours). Besides, there was no test of the 50% Fib retracement level of the last decline from the $3,673 high to $3,346 low. Buyers failed to clear the $3,500 resistance area, which ignited bearish moves. At the outset, the price is trading near the $3,440 level, with supports near $3,420 and $3,400. If there is a <a href=\"https:\/\/wncen.com\/2019\/01\/30\/bitcoin-price-watch-btc-rally-remains-attractive-to-sellers\/\" target=\"_blank\" rel=\"noopener \">downside break<\/a> below $3,400, the price is likely to test the $3,350 and $3,320 levels.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-370151\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/02\/Bitcoin-1.png?resize=1508%2C655\" alt=\"Bitcoin Price Analysis BTC Chart\" width=\"1508\" height=\"655\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/02\/Bitcoin-1.png?w=1508 1508w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/02\/Bitcoin-1.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/02\/Bitcoin-1.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/02\/Bitcoin-1.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/02\/Bitcoin-1.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/02\/Bitcoin-1.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<p>Looking at the <a href=\"https:\/\/www.tradingview.com\/symbols\/XBTUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">chart<\/a>, BTC price is clearly facing a solid resistance near the $3,500 level and the 100 SMA. As long as the price is trading below $3,500, there is a risk of a downside break in the near term.<\/p>\n<h2>Technical indicators<\/h2>\n<p>4-hours MACD \u2013 The MACD for BTC\/USD is slightly placed in the bullish zone.<\/p>\n<p>4-hours RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently well above the 50 level.<\/p>\n<p>Major Support Level \u2013 $3,400<\/p>\n<p>Major Resistance Level \u2013 $3,500<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price formed a support base near $3,370 and recovered higher above $3,450 against the US Dollar. There was a break above a major contracting triangle with resistance at $3,440 on the 4-hours chart of the BTC\/USD pair (data feed from Kraken). The pair seems to be approaching a couple of important resistances near $3,500 and $3,510. Bitcoin price is slowly moving higher with positive signs against the US Dollar. However, BTC\/USD is now approaching a significant hurdle near the $3,500 resistance zone. Bitcoin Price Analysis This past week, bitcoin price remained in a bearish zone below the $3,500 resistance against the US Dollar. The BTC\/USD pair tested the $3,375 support area on the couple of occasions and later bounced back. The pair moved above the $3,400 and $3,420 resistance levels to start a decent recovery. The price also traded above the 23.6% Fib retracement level of the last decline from the $3,673 high to $3,346 low. There was a positive price action developed above the $3,440 resistance level. Moreover, there was a break above a major contracting triangle with resistance at $3,440 on the 4-hours chart of the BTC\/USD pair. The price spiked above the $3,475 resistance level, but it remained well below the 100 simple moving average (4-hours). Besides, there was no test of the 50% Fib retracement level of the last decline from the $3,673 high to $3,346 low. Buyers failed to clear the $3,500 resistance area, which ignited bearish moves. At the outset, the price is trading near the $3,440 level, with supports near $3,420 and $3,400. If there is a downside break below $3,400, the price is likely to test the $3,350 and $3,320 levels. Looking at the chart, BTC price is clearly facing a solid resistance near the $3,500 level and the 100 SMA. As long as the price is trading below $3,500, there is a risk of a downside break in the near term. Technical indicators 4-hours MACD \u2013 The MACD for BTC\/USD is slightly placed in the bullish zone. 4-hours RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently well above the 50 level. Major Support Level \u2013 $3,400 Major Resistance Level \u2013 $3,500<\/p>\n","protected":false},"author":67,"featured_media":328923,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119],"class_list":["post-370150","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc"],"acf":[],"yoast_head":"\n<title>Bitcoin Price Weekly Analysis: BTC Rebound Approaching Crucial Resistance<\/title>\n<meta name=\"description\" content=\"Bitcoin price is slowly moving higher with positive signs against the US Dollar. 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Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation. As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/wncen.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Weekly Analysis: BTC Rebound Approaching Crucial Resistance","url":"http:\/\/wncen.com\/news\/bitcoin-price-weekly-analysis-btc-rebound-approaching-crucial-resistance\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-weekly-analysis-btc-rebound-approaching-crucial-resistance\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2018\/04\/techanalysis-btc2.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2018\/04\/techanalysis-btc2.jpg?fit=1200%2C600"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc"],"dateCreated":"2019-02-03T05:00:05Z","datePublished":"2019-02-03T05:00:05Z","dateModified":"2024-06-11T13:33:19Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Weekly Analysis: BTC Rebound Approaching Crucial Resistance\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-weekly-analysis-btc-rebound-approaching-crucial-resistance\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-weekly-analysis-btc-rebound-approaching-crucial-resistance\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2018\\\/04\\\/techanalysis-btc2.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2018\\\/04\\\/techanalysis-btc2.jpg?fit=1200%2C600\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\"],\"dateCreated\":\"2019-02-03T05:00:05Z\",\"datePublished\":\"2019-02-03T05:00:05Z\",\"dateModified\":\"2024-06-11T13:33:19Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2018\/04\/techanalysis-btc2.jpg?fit=1200%2C600","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/370150"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=370150"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/370150\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/328923"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=370150"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=370150"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=370150"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}