{"id":374532,"date":"2019-03-13T06:30:27","date_gmt":"2019-03-13T06:30:27","guid":{"rendered":"https:\/\/wncen.com\/?p=374532"},"modified":"2024-06-11T12:51:42","modified_gmt":"2024-06-11T12:51:42","slug":"bitcoin-btc-price-watch-case-for-larger-rally-above-100-sma","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-btc-price-watch-case-for-larger-rally-above-100-sma\/","title":{"rendered":"Bitcoin (BTC) Price Watch: Case For Larger Rally Above 100 SMA"},"content":{"rendered":"
Bitcoin price rebounded nicely from the $3,800 support against the US Dollar. BTC is currently sighting an upside break above the $3,880 resistance and the 100 hourly SMA.<\/em><\/p>\n Yesterday, we saw a downside reaction<\/a> below the $3,860 support in bitcoin price against the US Dollar. The BTC\/USD pair tested the key $3,800 support level and later started an upside correction. A swing low was formed at $3,801 and the price corrected above the $3,840 level. Buyers were successful in pushing the price above the $3,850 resistance as well. Besides, there was a break above the 50% Fib retracement level of the recent drop from the $3,910 swing high to $3,800 swing low.<\/p>\n However, the recovery faced a strong resistance near the $3,880 level and the 100 hourly simple moving average. More importantly, there is a key bearish trend line in place with resistance at $3,865 on the hourly chart of the BTC\/USD pair. The pair also struggled to clear the 61.8% Fib retracement level of the recent drop from the $3,910 swing high to $3,800 swing low. At the moment, the price is consolidating just below the trend line, $3,870, and the 100 hourly SMA.<\/p>\n A successful break above the trend line and $3,880 could really boost the market sentiment<\/a>. In the mentioned case, the price could climb above the $3,900 and $3,920 resistance levels. The next stop could be $3,960 or even $4,000. On the flip side, if there is a downside correction, the price may find buyers near the $3,840 level. The main support is near the $3,820 and $3,800 levels. If there is a downside break below $3,800, the price could move into a bearish zone in the near term.<\/p>\n <\/p>\nBitcoin Price Analysis<\/h2>\n