{"id":386651,"date":"2019-06-19T06:00:42","date_gmt":"2019-06-19T06:00:42","guid":{"rendered":"https:\/\/wncen.com\/?p=386651"},"modified":"2024-06-11T12:51:33","modified_gmt":"2024-06-11T12:51:33","slug":"bitcoin-btc-price-uptrend-intact-bulls-sighting-fresh-increase","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-btc-price-uptrend-intact-bulls-sighting-fresh-increase\/","title":{"rendered":"Bitcoin (BTC) Price Uptrend Intact: Bulls Sighting Fresh Increase"},"content":{"rendered":"<ul>\n<li>Bitcoin price started a downside correction below the $9,200 support against the US Dollar.<\/li>\n<li>The price tested the $8,950 support area and it is currently moving higher towards $9,200.<\/li>\n<li>There was a break above a declining channel with resistance at $9,120 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair is showing positive signs and it could continue to rise if it breaks the $9,275 resistance.<\/li>\n<\/ul>\n<p><em>Bitcoin price is currently moving higher and likely completed a downside correction against the US Dollar. BTC must break $9,220 and $9,275 to continue higher in the near term.<\/em><\/p>\n<h2>Bitcoin Price Analysis<\/h2>\n<p>After <a href=\"https:\/\/wncen.com\/2019\/06\/18\/bitcoin-trend-overwhelmingly-bullish-btc-supported\/\" target=\"_blank\" rel=\"noopener noreferrer \">setting a new 2019 high<\/a> near $9,472, bitcoin price started a downside correction against the US Dollar. The BTC\/USD pair broke the $9,300 and $9,200 support levels to start the recent correction. It even spiked below the $9,000 support and the 100 hourly simple moving average. However, downsides were limited and the price formed a swing low near the $8,951 level.<\/p>\n<p>The price is currently climbing higher and is trading above $9,050 plus the 100 hourly simple moving average. There was a break above the 23.6% Fib retracement level of the recent decline from the $9,472 high to $8,951 low. Moreover, there was a break above a declining channel with resistance at $9,120 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>The pair is currently testing the 50% Fib retracement level of the recent decline from the $9,472 high to $8,951 low. If there is an upside break above the $9,220 level, the <a href=\"https:\/\/wncen.com\/2019\/06\/17\/bitcoin-btc-price-next-bullish-break-could-hit-10k\/\" target=\"_blank\" rel=\"noopener noreferrer \">price could continue to rise<\/a> in the near term. The next immediate resistance is near $9,275. It is near the 61.8% Fib retracement level of the recent decline from the $9,472 high to $8,951 low.<\/p>\n<p>Therefore, a successful close above $9,275 might push the price towards the last swing high at $9,472. On the downside, an initial support is near the $9,070 level and the 100 hourly SMA. The main supports are $9,000 and $8,950, below which the price may perhaps extend its downside correction.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Bitcoin-17.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-386652\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Bitcoin-17.png?resize=1828%2C868\" alt=\"Bitcoin Price Analysis BTC Chart\" width=\"1828\" height=\"868\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Bitcoin-17.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Bitcoin-17.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Bitcoin-17.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Bitcoin-17.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Bitcoin-17.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Bitcoin-17.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Bitcoin-17.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Looking at the <a href=\"https:\/\/www.tradingview.com\/symbols\/XBTUSD\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">chart<\/a>, bitcoin price successfully held the $9,000 support area despite a couple of spikes. As long as the price is holding the $9,000 support and the $8,950 pivot, it could climb higher towards $9,400 and $9,500. Conversely, a downside break below $8,950 could put pressure on the bulls. The next key support is near the $8,740 level.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is slowly gaining momentum in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently just above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $9,070 followed by $9,000.<\/p>\n<p>Major Resistance Levels \u2013 $9,220, $9,275 and $9,400.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price started a downside correction below the $9,200 support against the US Dollar. The price tested the $8,950 support area and it is currently moving higher towards $9,200. There was a break above a declining channel with resistance at $9,120 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is showing positive signs and it could continue to rise if it breaks the $9,275 resistance. Bitcoin price is currently moving higher and likely completed a downside correction against the US Dollar. BTC must break $9,220 and $9,275 to continue higher in the near term. Bitcoin Price Analysis After setting a new 2019 high near $9,472, bitcoin price started a downside correction against the US Dollar. The BTC\/USD pair broke the $9,300 and $9,200 support levels to start the recent correction. It even spiked below the $9,000 support and the 100 hourly simple moving average. However, downsides were limited and the price formed a swing low near the $8,951 level. The price is currently climbing higher and is trading above $9,050 plus the 100 hourly simple moving average. There was a break above the 23.6% Fib retracement level of the recent decline from the $9,472 high to $8,951 low. Moreover, there was a break above a declining channel with resistance at $9,120 on the hourly chart of the BTC\/USD pair. The pair is currently testing the 50% Fib retracement level of the recent decline from the $9,472 high to $8,951 low. If there is an upside break above the $9,220 level, the price could continue to rise in the near term. The next immediate resistance is near $9,275. It is near the 61.8% Fib retracement level of the recent decline from the $9,472 high to $8,951 low. Therefore, a successful close above $9,275 might push the price towards the last swing high at $9,472. On the downside, an initial support is near the $9,070 level and the 100 hourly SMA. The main supports are $9,000 and $8,950, below which the price may perhaps extend its downside correction. Looking at the chart, bitcoin price successfully held the $9,000 support area despite a couple of spikes. As long as the price is holding the $9,000 support and the $8,950 pivot, it could climb higher towards $9,400 and $9,500. Conversely, a downside break below $8,950 could put pressure on the bulls. The next key support is near the $8,740 level. Technical indicators: Hourly MACD \u2013 The MACD is slowly gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently just above the 50 level. Major Support Levels \u2013 $9,070 followed by $9,000. Major Resistance Levels \u2013 $9,220, $9,275 and $9,400.<\/p>\n","protected":false},"author":67,"featured_media":344599,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[1119,44457],"class_list":["post-386651","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-btc","tag-l-bitcoin"],"acf":[],"yoast_head":"\n<title>Bitcoin (BTC) Price Uptrend Intact: Bulls Sighting Fresh Increase<\/title>\n<meta name=\"description\" content=\"Bitcoin price is currently moving higher and likely completed a downside correction against the US Dollar. 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