{"id":386483,"date":"2019-06-18T06:00:52","date_gmt":"2019-06-18T06:00:52","guid":{"rendered":"https:\/\/wncen.com\/?p=386483"},"modified":"2024-06-11T12:58:44","modified_gmt":"2024-06-11T12:58:44","slug":"bitcoin-trend-overwhelmingly-bullish-btc-supported","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-trend-overwhelmingly-bullish-btc-supported\/","title":{"rendered":"Bitcoin Trend Overwhelmingly Bullish: Dips In BTC Remain Supported"},"content":{"rendered":"
Bitcoin price is showing a lot of bullish signs above $9,000 against the US Dollar. BTC currently traded towards $9,500 and it remains well supported for more gains this week.<\/em><\/p>\n After a minor downside correction, bitcoin price found support<\/a> near the $9,150 level against the US Dollar. The BTC\/USD pair remained well bid and started a fresh increase. It broke the last swing high near $9,392 and traded to a new 2019 high near the $9,473 level. However, the bulls failed to gain strength above $9,500 and the price started another downside correction.<\/p>\n BTC traded below the $9,300 support and the 23.6% Fib retracement level of the recent wave from the $8,830 low to $9,473 high. At the moment, the price is finding support near the $9,250 level. Moreover, there is a key breakout pattern forming with support near $9,220 on the hourly chart of the BTC\/USD pair. If the pair breaks the $9,220 support, it could test the $9,150 support.<\/p>\n The 50% Fib retracement level of the recent wave from the $8,830 low to $9,473 high is also near the $9,150 level to act as a strong support. If there are more losses, the price might test the main support near the $9,000 level. An intermediate support is $9,075 and the 61.8% Fib retracement level of the recent wave from the $8,830 low to $9,473 high.<\/p>\n On the upside, an initial resistance is near the $9,320 and $9,350 levels. If the price surpasses the $9,350 level, it is likely to climb back above $9,400. In the mentioned case, the price could even trade to a new 2019 high above the $9,500 level in the near term. The next major hurdles<\/a> are near $9,550 and $9,650.<\/p>\nBitcoin Price Analysis<\/h2>\n