{"id":396047,"date":"2019-09-15T04:08:13","date_gmt":"2019-09-15T04:08:13","guid":{"rendered":"https:\/\/wncen.com\/?p=396047"},"modified":"2024-06-11T12:52:15","modified_gmt":"2024-06-11T12:52:15","slug":"bitcoin-btc-price-weekly-forecast-slow-and-steady-increase-likely","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-btc-price-weekly-forecast-slow-and-steady-increase-likely\/","title":{"rendered":"Bitcoin (BTC) Price Weekly Forecast: Slow And Steady Increase Likely"},"content":{"rendered":"
Bitcoin price is showing positive signs above $10,000 against the US Dollar. BTC could rise steadily as long as there is no close below the $10,000 support area.<\/em><\/p>\n In the last weekly forecast, we saw bitcoin price holding the key $10,000 support area against the US Dollar. The BTC\/USD pair climbed higher and traded above the $10,000 resistance area. Moreover, there was a break above the $10,800 level and the 100 simple moving average (4-hours). However, the price failed to continue higher and topped below the $11,000 resistance.<\/p>\n A swing high was formed near $10,954 and recently the price started a fresh decline. It broke the key $10,500 support area and the 100 SMA. Moreover, the price spiked below the $10,000 support area. Finally, a swing low was formed near $9,903 and the price is currently correcting higher. It broke the 23.6% Fib retracement level of the last decline from the $10,954 high to $9,903 low.<\/p>\n However, the upward move is facing hurdles near the $10,400 and $10,500 levels<\/a>. Additionally, the price is also struggling to climb above the 50% Fib retracement level of the last decline from the $10,954 high to $9,903 low. If there is a break above the $10,450 and $10,500 levels, the price could continue to rise. The next key resistance is near the $10,800 level.<\/p>\n On the downside, there are many supports near the $10,100 and $10,000 levels. Additionally, there is a major bullish trend line forming with support near $10,140 on the 4-hours chart of the BTC\/USD pair. If there is a downside break<\/a> below the trend line and the $10,000 support, the price could resume its decline.<\/p>\nBitcoin Price Weekly Analysis (BTC)<\/h2>\n