{"id":368208,"date":"2019-01-15T07:00:15","date_gmt":"2019-01-15T07:00:15","guid":{"rendered":"https:\/\/uniquehot.com\/?p=368208"},"modified":"2024-06-11T12:57:34","modified_gmt":"2024-06-11T12:57:34","slug":"bitcoin-price-watch-choppy-price-action-could-lead-btc-higher","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-watch-choppy-price-action-could-lead-btc-higher\/","title":{"rendered":"Bitcoin Price Watch: Choppy Price Action Could Lead BTC Higher"},"content":{"rendered":"
Bitcoin price recovered nicely above $3,500 and $3,600 against the US Dollar. However, the current price action is choppy, suggesting swing moves in BTC above $3,560.<\/em><\/p>\n Recently, we saw a major downward move<\/a> below $3,800 in bitcoin price against the US Dollar. The BTC\/USD pair even broke the $3,560 support and the $3,400 pivot level. A low was formed at $3,376 and later the price started a decent recovery. It broke the $3,400 and $3,500 resistance levels to move into a positive zone. The upward move was convincing as the price settled above $3,560 and the 100 hourly simple moving average. Finally, there was a break above the $3,649 swing high, opening the doors for more gains.<\/p>\n Moreover, there was a break above a key bearish trend line with resistance at $3,560 on the hourly chart of the BTC\/USD pair. The price tested the 1.236 Fib extension level of the drop from the $3,650 high to $3,376 low. A high was formed at $3,716 and the price is currently consolidating gains. An initial support is $3,640 and the 23.6% Fib retracement level of the recent wave from the $3,376 low to $3,716 high. The main support is near the previous resistance<\/a> at $3,560. It coincides with the 50% Fib retracement level of the recent wave from the $3,376 low to $3,716 high.<\/p>\n <\/p>\nBitcoin Price Analysis<\/h2>\n