{"id":418166,"date":"2020-03-15T05:28:19","date_gmt":"2020-03-15T05:28:19","guid":{"rendered":"https:\/\/wncen.com\/?p=418166"},"modified":"2024-06-11T13:46:24","modified_gmt":"2024-06-11T13:46:24","slug":"bitcoin-trading-near-make-or-break-levels","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-trading-near-make-or-break-levels\/","title":{"rendered":"Bitcoin Trading Near Make-or-Break Levels: Can Bulls Make It?"},"content":{"rendered":"
Bitcoin is currently correcting higher from the $3,906 swing low against the US Dollar. BTC is now forming a crucial breakout pattern, which is likely to decide the next move.<\/em><\/p>\n
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Bitcoin price seems to be facing a lot of hurdles on the upside near $5,500 and $5,950.<\/li>\n
The price is now trading well below $6,500 pivot area and the 100 simple moving average (4-hours).<\/li>\n
There is a crucial contracting triangle forming with resistance near $5,350 on the 4-hours chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could either recover towards the $6,500 resistance area or it might start a fresh decline.<\/li>\n<\/ul>\n
Bitcoin is Facing Hurdles<\/h2>\n
This past week, bitcoin saw a strong decline below the $6,000 and $5,000 levels against the US Dollar. BTC price even spiked below the $4,200 support level and settled well below the 100 simple moving average (4-hours).<\/p>\n