{"id":373333,"date":"2019-03-04T06:30:53","date_gmt":"2019-03-04T06:30:53","guid":{"rendered":"https:\/\/wncen.com\/?p=373333"},"modified":"2024-06-11T12:57:05","modified_gmt":"2024-06-11T12:57:05","slug":"bitcoin-price-watch-btc-could-retest-3600-before-buyers-reappear","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-watch-btc-could-retest-3600-before-buyers-reappear\/","title":{"rendered":"Bitcoin Price Watch: BTC Could Retest $3,600 Before Buyers Reappear"},"content":{"rendered":"
Bitcoin price failed to climb above key resistances and declined against the US Dollar. BTC is likely to retest the key $3,600 support area before it could bounce back above $3,800.<\/em><\/p>\n This past week, we saw many rejections<\/a> near the $3,900 and $3,860 resistances in bitcoin price against the US Dollar. The BTC\/USD pair topped near the $3,860 level and later started a downward move. It broke the $3,800 and $3,760 support levels to move into a bearish zone. The recent decline was crucial as the price settled below the $3,800 level and the 100 hourly simple moving average. The decline was such that the price even broke the $3,720 support level.<\/p>\n Moreover, there was a break below a declining channel with resistance at $3,800 on the hourly chart of the BTC\/USD pair. Finally, a new intraday low was formed near $3,692. In the short term, there could be a minor upside correction towards $3,760 or $3,750. The 50% Fib retracement level of the recent decline from the $3,805 high to $3,692 low is near the $3,748 level to act as a resistance. However, the main resistance<\/a> is near the $3,800 level and the channel upper trend line.<\/p>\n An intermediate resistance is near the $3,775 level. It coincides with the 76.4% Fib retracement level of the recent decline from the $3,805 high to $3,692 low. Therefore, if the price corrects higher, it could struggle to clear the $3,760, $3,775 and $3,800 resistance levels. The main hurdle for buyers remain near $3,860, above which the price may move into a bullish zone.<\/p>\n <\/p>\nBitcoin Price Analysis<\/h2>\n