{"id":372875,"date":"2019-02-27T06:30:54","date_gmt":"2019-02-27T06:30:54","guid":{"rendered":"https:\/\/wncen.com\/?p=372875"},"modified":"2024-06-11T12:57:20","modified_gmt":"2024-06-11T12:57:20","slug":"bitcoin-price-watch-btc-remains-sell-until-it-breaks-100-sma","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-watch-btc-remains-sell-until-it-breaks-100-sma\/","title":{"rendered":"Bitcoin Price Watch: BTC Remains Sell Until It Breaks 100 SMA"},"content":{"rendered":"
Bitcoin price formed a decent support and recovered above $3,780 against the US Dollar. However, BTC remain a sell as long as it is trading below the key $3,860 and $3,900 resistance levels.<\/em><\/p>\n After a major decline<\/a> below the $4,000 support, bitcoin price found support near $3,625 against the US Dollar. The BTC\/USD pair started an upside correction and traded above the $3,700 and $3,750 resistance levels. There was a push above the 23.6% Fib retracement level of the last downside move from the $4,188 high to $3,625 low. It opened the doors for a larger recovery above the $3,800 level. However, the price struggled to break the key $3,860 resistance and later the price started consolidating gains.<\/p>\n To the downside, the $3,750 level acted as a decent support. The price formed a support base and later moved above $3,780. Recently, there was a break above a short term contracting triangle with resistance at $3,795 on the hourly chart of the BTC\/USD pair. The pair is slowly moving higher<\/a> and it seems like it could retest the key $3,860 resistance level. However, the main resistance is near the $3,880 level and the 100 hourly simple moving average. Above the 100 hourly SMA, the price could test the $3,900 pivot level.<\/p>\n Finally, the 50% Fib retracement level of the last downside move from the $4,188 high to $3,625 low is just above $3,900. Therefore, it seems like there are many resistances formed near the $3,860, $3,880 and $3,900 levels. To start a decent upward move, a close above the $3,880 level and the 100 hourly SMA is very important.<\/p>\n <\/p>\nBitcoin Price Analysis<\/h2>\n