{"id":368320,"date":"2019-01-16T06:40:52","date_gmt":"2019-01-16T06:40:52","guid":{"rendered":"https:\/\/uniquehot.com\/?p=368320"},"modified":"2024-06-11T12:56:39","modified_gmt":"2024-06-11T12:56:39","slug":"bitcoin-price-watch-btc-approaching-next-significant-break","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-watch-btc-approaching-next-significant-break\/","title":{"rendered":"Bitcoin Price Watch: BTC Approaching Next Significant Break"},"content":{"rendered":"
Bitcoin price is preparing for the next key break above $3,650 against the US Dollar. A close above $3,650 could trigger bullish moves towards $3,720 and $3,800.<\/em><\/p>\n After trading above the $3,700 level, bitcoin price faced renewed selling pressure against the US Dollar. More importantly, Ethereum\u2019s bearish reaction<\/a> sparked a downward move below $3,650 in the BTC\/USD pair. It declined below the $3,620 support and the 100 hourly simple moving average. Besides, there was a break below the 23.6% Fib retracement level of the last wave from the $3,376 low to $3,716 high. The price even traded below the $3,600 support, but the $3,560 pivot acted as a solid support.<\/p>\n Additionally, the 50% Fib retracement level of the last wave from the $3,376 low to $3,716 high also acted as a support. At the outset, the price is currently holding the $3,560 support, with range moves. It seems like there is a short term contracting triangle formed with resistance at $3,625 on the hourly chart of the BTC\/USD pair. Should there be an upside break<\/a> above the $3,650 resistance, the price may climb towards the $3,700 and $3,750 levels. On the other hand, a downside break below $3,560 and $3,540 might trigger bearish moves. The next key supports are near $3,500 and $3,455.<\/p>\n <\/p>\nBitcoin Price Analysis<\/h2>\n