{"id":368447,"date":"2019-01-17T06:45:56","date_gmt":"2019-01-17T06:45:56","guid":{"rendered":"https:\/\/uniquehot.com\/?p=368447"},"modified":"2024-06-11T12:56:43","modified_gmt":"2024-06-11T12:56:43","slug":"bitcoin-price-watch-btc-at-risk-of-sharp-decline-could-retest-3400","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-watch-btc-at-risk-of-sharp-decline-could-retest-3400\/","title":{"rendered":"Bitcoin Price Watch: BTC At Risk of Sharp Decline, Could Retest $3,400"},"content":{"rendered":"
Bitcoin price is under selling pressure below $3,650 against the US Dollar. There are high chances of more losses in BTC below $3,500 and $3,450 in the near term.<\/em><\/p>\n Recently, there was a decent support<\/a> formed near $3,550 in bitcoin price against the US Dollar. The BTC\/USD pair started a short term recovery and moved above the $3,600 and $3,620 resistance levels. There was also a break above the 50% Fib retracement level of the last side from the $3,716 high to $3,549 low. However, the price struggled to hold gains above the $3,650 level and the 100 hourly simple moving average. A clear rejection candle was formed near the $3,650 level.<\/p>\n Besides, the price failed to surpass the 61.8% Fib retracement level of the last side from the $3,716 high to $3,549 low. As a result, there was a bearish reaction and the price declined below $3,620 and $3,600. More importantly, there was a break below a major contracting triangle with support at $3,590 on the hourly chart of the BTC\/USD pair. The pair is now trading well below $3,620 and the 100 hourly SMA. Should bitcoin gain bearish momentum<\/a> below the $3,550 support, the price may tumble below the $3,500 and $3,450 support levels.<\/p>\n <\/p>\nBitcoin Price Analysis<\/h2>\n