{"id":382911,"date":"2019-05-20T06:00:45","date_gmt":"2019-05-20T06:00:45","guid":{"rendered":"https:\/\/wncen.com\/?p=382911"},"modified":"2024-06-11T12:51:15","modified_gmt":"2024-06-11T12:51:15","slug":"bitcoin-btc-price-targets-additional-gains","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-btc-price-targets-additional-gains\/","title":{"rendered":"Bitcoin (BTC) Price Targets Additional Gains: Dips Remain Supported"},"content":{"rendered":"
Bitcoin price is positioned nicely in the positive zone above $7,600 against the US Dollar. BTC could correct in the short term, but dips remain supported near $7,760 and $7,650.<\/em><\/p>\n Recently, bitcoin price formed a strong support near the $7,250 level against the US Dollar. The BTC\/USD pair started a strong rise<\/a> from the $7,230 swing low and climbed above the $7,400 resistance level. The recent upward move was such that the price even climbed above the $7,500 resistance and the 100 hourly simple moving average. Finally, there was a clear break above the $8,000 resistance level. The price tagged the main $8,280 resistance level and recently corrected below the $8,150 level.<\/p>\n There was a break below the 23.6% Fib retracement level of the last wave from the $7,230 low to $8,288 swing high. However, the $7,800 level is acting as a strong buy zone. Moreover, the 50% Fib retracement level of the last wave from the $7,230 low to $8,288 swing high is also near the $7,764 level to provide support. More importantly, there is a major bullish trend line forming with support near $7,610 on the hourly chart of the BTC\/USD pair. It seems like there is a strong support<\/a> forming near $7,610 and the 100 hourly SMA.<\/p>\n Besides, the 61.8% Fib retracement level of the last wave from the $7,230 low to $8,288 swing high is also near the $7,640 level. Therefore, if the price corrects lower from the current levels, the $7,760 and $7,650 levels are likely to act as strong supports. If there is a downside break below the $7,600 support zone, the price might move back in a bearish zone.<\/p>\nBitcoin Price Analysis<\/h2>\n