{"id":375221,"date":"2019-03-19T06:30:49","date_gmt":"2019-03-19T06:30:49","guid":{"rendered":"https:\/\/wncen.com\/?p=375221"},"modified":"2024-06-11T13:38:51","modified_gmt":"2024-06-11T13:38:51","slug":"bitcoin-btc-price-watch-market-presents-last-chance-to-buyers","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-btc-price-watch-market-presents-last-chance-to-buyers\/","title":{"rendered":"Bitcoin (BTC) Price Watch: Market Presents Last Chance To Buyers"},"content":{"rendered":"
Bitcoin price is holding an important support near $3,940 against the US Dollar. BTC is likely to make the next move either above $4,000 or below the $3,900 support level.<\/em><\/p>\n Yesterday, we saw the start of a downside correction<\/a> in bitcoin price from the $4,041 high against the US Dollar. The BTC\/USD pair corrected lower and traded below the $4,020 and $4,000 support levels. There was a break below the 23.6% Fib retracement level of the last wave from the $3,846 low to $4,041 high. Besides, there was a close below the $4,000 support and the price tested the $3,940 support area.<\/p>\n More importantly, the 50% Fib retracement level of the last wave from the $3,846 low to $4,041 high acted as a strong support. Sellers made two attempts to clear the $3,940 support, but they failed to gain strength. Similarly, buyers pushed the price above the $3,980 level, but they struggled to keep the price in a positive zone. The price was recently rejected near the $3,980 level. It is currently moving lower and it could retest the $3,940 support area.<\/p>\n It seems like buyers might have the last chance for an upside break<\/a> above the $4,000 resistance. There is also a short term bearish trend line in place with resistance at $3,980 on the hourly chart of the BTC\/USD pair. Therefore, buyers need to clear the trend line and the $4,000 resistance for a fresh upward move. If they fail, there could be a strong decline below the $3,940 support area. Besides, a close below the $3,940 support and the 100 hourly SMA could push the price towards the $3,900 or $3,880 support.<\/p>\n <\/p>\nBitcoin Price Analysis<\/h2>\n