{"id":371271,"date":"2019-02-13T06:30:36","date_gmt":"2019-02-13T06:30:36","guid":{"rendered":"https:\/\/wncen.com\/?p=371271"},"modified":"2024-06-11T13:33:29","modified_gmt":"2024-06-11T13:33:29","slug":"bitcoin-price-watch-btc-could-accelerate-gains-above-3650","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-watch-btc-could-accelerate-gains-above-3650\/","title":{"rendered":"Bitcoin Price Watch: BTC Could Accelerate Gains Above $3,650"},"content":{"rendered":"
Bitcoin price is setting up for the next crucial break against the US Dollar. BTC could gain bullish momentum if it clears the $3,620 and $3,650 resistance levels in the near term.<\/em><\/p>\n Recently, we saw an intermediate high at $3,658<\/a> in bitcoin price against the US Dollar. Later, the BTC\/USD pair corrected lower and traded below the $3,600 and $3,580 support levels. However, the $3,540 and $3,550 support levels acted as a strong barrier for sellers. A low was formed at $3,539 and later the price bounced back above $3,580. The price broke the $3,600 resistance and the 100 hourly simple moving average. Besides, there was a break above the 50% Fib retracement level of the last drop from the $3,658 high to $3,539 low.<\/p>\n However, the price faced a strong resistance near the $3,610-3,620 zone. More importantly, yesterday\u2019s contracting triangle is in place with resistance near $3,610 on the hourly chart of the BTC\/USD pair. The pair seems to be struggling near the 61.8% Fib retracement level of the last drop from the $3,658 high to $3,539 low. Therefore, a successful break above $3,610 and follow through above $3,620 could set the pace for more gains. The main resistance is at $3,650<\/a>, above which the price might revisit $3,720. On the other hand, a downside break below $3,580 could encourage sellers to push the price further lower.<\/p>\n <\/p>\nBitcoin Price Analysis<\/h2>\n