{"id":371415,"date":"2019-02-14T06:00:48","date_gmt":"2019-02-14T06:00:48","guid":{"rendered":"https:\/\/wncen.com\/?p=371415"},"modified":"2024-06-11T12:57:23","modified_gmt":"2024-06-11T12:57:23","slug":"bitcoin-price-watch-btc-set-for-further-gains-downsides-limited","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-watch-btc-set-for-further-gains-downsides-limited\/","title":{"rendered":"Bitcoin Price Watch: BTC Set For Further Gains, Downsides Limited"},"content":{"rendered":"
Bitcoin price is trading nicely in a bullish zone above $3,560 against the US Dollar. BTC is likely to accelerate gains above $3,600 as long as the price stays above the $3,540 support.<\/em><\/p>\n After trading as low as $3,538, bitcoin price moved higher<\/a> against the US Dollar. The BTC\/USD pair broke the $3,560 and $3,575 resistance levels. There was even a spiked above the $3,600 resistance and the 100 hourly simple moving average. However, the price struggled to hold gains above the $3,600 and $3,610 levels. It was rejected near the 61.8% Fib retracement level of the downside move from the $3,660 high to $3,538 low. The price declined below $3,580, but there was a fresh upward move above the $3,600 level. A new intraday high was formed at $3,632 and the price dipped below $3,585.<\/p>\n Sellers pushed the price below the 61.8% Fib retracement level of the last wave from the $3,538 low to $3,632 high. However, the decline was protected by the key $3,560 support area<\/a>. Besides, the 76.4% Fib retracement level of the last wave from the $3,538 low to $3,632 high acted as a support. At the outset, the price is moving higher towards the $3,600 resistance. More importantly, this week\u2019s followed bearish trend line is intact with resistance at $3,590 on the hourly chart of the BTC\/USD pair. Therefore, a successful break above the trend line and $3,600 is must for buyers to gain traction. The next targets for buyers could be $3,630 and $3,680 in the near term.<\/p>\n <\/p>\nBitcoin Price Analysis<\/h2>\n