{"id":393163,"date":"2019-08-15T06:00:34","date_gmt":"2019-08-15T06:00:34","guid":{"rendered":"https:\/\/wncen.com\/?p=393163"},"modified":"2024-06-11T12:50:12","modified_gmt":"2024-06-11T12:50:12","slug":"bitcoin-btc-price-final-target-but-decline-far-from-over","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-btc-price-final-target-but-decline-far-from-over\/","title":{"rendered":"Bitcoin (BTC) Price Final Target But Decline Far From Over"},"content":{"rendered":"
Bitcoin price is trading a crucial downtrend below $10,200 against the US Dollar. BTC price tested the final bearish target of $10,000, as discussed in the weekly forecast.<\/em><\/p>\n Yesterday, bitcoin price<\/a> tested the $10,500 support level (this week\u2019s bearish target) against the US Dollar. Later, the BTC\/USD pair extended losses and broke a couple of important supports near $10,400 and $10,200. Moreover, there was a break below the $10,000 support and the price settled well below the 100 hourly simple moving average. Finally, the price traded below $9,800 and a new monthly low was formed near $9,635.<\/p>\n The price is currently trading in a strong downtrend<\/a> below $10,000. An immediate resistance is near the $9,880 level plus the 23.6% Fib retracement level of the recent slide from the $10,658 high to $9,635 low. However, the main resistances on the upside are near $10,000, $10,100 and $10,200. Moreover, there is a key bearish trend line forming with resistance near $10,150 on the hourly chart of the BTC\/USD pair.<\/p>\n The 50% Fib retracement level of the recent slide from the $10,658 high to $9,635 low is also waiting near the $10,150 level to act as a resistance. Therefore, an upside correction above the $9,880 level is likely to face sellers near the $10,000 and $10,200 levels. To start a strong recovery, the price has to climb above the $10,200 resistance and gain strength above $10,250.<\/p>\n On the downside, the recent low at $9,635 is an immediate support. If there are more losses, the price could extend its decline towards the $9,500 support level. More importantly, the bears could target the $9,200 support area in the coming sessions.<\/p>\nBitcoin Price Analysis<\/h2>\n