{"id":371758,"date":"2019-02-18T06:30:10","date_gmt":"2019-02-18T06:30:10","guid":{"rendered":"https:\/\/wncen.com\/?p=371758"},"modified":"2024-06-11T13:33:34","modified_gmt":"2024-06-11T13:33:34","slug":"bitcoin-price-watch-btc-turned-buy-on-dips-uptrend-intact","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-watch-btc-turned-buy-on-dips-uptrend-intact\/","title":{"rendered":"Bitcoin Price Watch: BTC Turned Buy On Dips, Uptrend Intact"},"content":{"rendered":"
Bitcoin price gained traction and broke the key $3,600 resistance against the US Dollar. BTC is now placed nicely in a positive zone and dips remain supported near $3,620 and $3,600.<\/em><\/p>\n There was a brief consolidation this past week above the $3,550 support in bitcoin price against the US Dollar. The BTC\/USD pair formed a strong support near the $3,550 level and later traded higher. The price gained traction and broke many resistances<\/a>, including $3,580 and $3,600. It opened the doors for more gains and the price even settled above $3,600 and the 100 hourly simple moving average. During the upward move, there was a break above a major bearish trend line with resistance at $3,610 on the hourly chart of the BTC\/USD pair.<\/p>\n The pair even cleared the $3,700 resistance and traded to a new weekly high at $3,732. Later, there was a downside correction below the $3,700 level. Sellers pushed the price below the 23.6% Fib retracement level of the last wave from the $3,553 low to $3,732 high. However, there are many supports near the $3,640 and $3,620 levels. An initial support is $3,645 and the 50% Fib retracement level of the last wave from the $3,553 low to $3,732 high.<\/p>\n The main support is near the $3,620 level (the previous breakout resistance<\/a>). It also coincides with the 61.8% Fib retracement level of the last wave from the $3,553 low to $3,732 high. Therefore, if there is a downside correction below $3,660, the price could find support near the $3,640 and $3,620 levels. On the upside, an initial resistance is near the $3,700 level, above which the price may perhaps test $3,750.<\/p>\n <\/p>\nBitcoin Price Analysis<\/h2>\n