{"id":368842,"date":"2019-01-22T06:45:18","date_gmt":"2019-01-22T06:45:18","guid":{"rendered":"https:\/\/uniquehot.com\/?p=368842"},"modified":"2024-06-11T12:56:41","modified_gmt":"2024-06-11T12:56:41","slug":"bitcoin-price-watch-btc-at-continued-risk-of-weakness","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-watch-btc-at-continued-risk-of-weakness\/","title":{"rendered":"Bitcoin Price Watch: BTC At Continued Risk of Weakness"},"content":{"rendered":"<ul>\n<li>Bitcoin price remained in a bearish zone below the $3,580 and $3,600 resistance levels against the US Dollar.<\/li>\n<li>There is a major bearish trend line in place with resistance near $3,600 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The price is currently trading inside an expanding triangle with resistance near the $3,580 level.<\/li>\n<\/ul>\n<p><em>Bitcoin price started consolidating losses above the $3,480 support against the US Dollar. BTC is likely to face a strong selling interest near the $3,580 and $3,600 levels.<\/em><\/p>\n<h2>Bitcoin Price Analysis<\/h2>\n<p>Yesterday, there was a <a href=\"https:\/\/uniquehot.com\/2019\/01\/21\/bitcoin-price-watch-btcs-trend-overwhelmingly-bearish-below-3600\/\" target=\"_blank\" rel=\"noopener \">significant downward move<\/a> below the $3,650 support level in bitcoin price against the US Dollar. The BTC\/USD pair even traded below the $3,560 support level and the 100 hourly simple moving average. It spiked below the $3,500 support and a low was formed near the $3,465 level. Later, the price recovered a few points above the $3,500 and $3,525 resistance levels. Besides, there was a break above the 23.6% Fib retracement level of the last drop from the $3,701 swing high to $3,467 low.<\/p>\n<p>However, the previous support near the $3,550 and $3,560 levels acted as a strong barrier for buyers. The price even struggled to test the 50% Fib retracement level of the last drop from the $3,701 swing high to $3,467 low. There were a couple of swing moves near the $3,550 level, with no upside break. At the outset, the price is trading inside an expanding triangle with resistance near the $3,580 level. Moreover, there is a major bearish trend line in place with resistance near $3,600 on the hourly chart of the BTC\/USD pair. Therefore, a break above the $3,580 and $3,600 resistance levels is needed for a <a href=\"https:\/\/uniquehot.com\/2019\/01\/20\/bitcoin-price-weekly-analysis-btc-could-accelerate-gains-above-3850\/\" target=\"_blank\" rel=\"noopener \">decent recovery<\/a>.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-368843\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/01\/Bitcoin-17.png?resize=1828%2C869\" alt=\"Bitcoin Price Analysis BTC Chart\" width=\"1828\" height=\"869\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/01\/Bitcoin-17.png?w=1828 1828w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/01\/Bitcoin-17.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/01\/Bitcoin-17.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/01\/Bitcoin-17.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/01\/Bitcoin-17.png?w=1536 1536w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/01\/Bitcoin-17.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/01\/Bitcoin-17.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<p>Looking at the <a href=\"https:\/\/www.tradingview.com\/symbols\/XBTUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">chart<\/a>, bitcoin price may continue to trade in a range below the $3,550 and $3,580 levels. The next move in BTC could be either above the $3,600 resistance or below $3,480.<\/p>\n<h2>Technical indicators<\/h2>\n<p>Hourly MACD \u2013 The MACD for BTC\/USD is about to gain traction in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently well below the 50 level, with a bearish angle.<\/p>\n<p>Major Support Level \u2013 $3,480<\/p>\n<p>Major Resistance Level \u2013 $3,600<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price remained in a bearish zone below the $3,580 and $3,600 resistance levels against the US Dollar. There is a major bearish trend line in place with resistance near $3,600 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The price is currently trading inside an expanding triangle with resistance near the $3,580 level. Bitcoin price started consolidating losses above the $3,480 support against the US Dollar. BTC is likely to face a strong selling interest near the $3,580 and $3,600 levels. Bitcoin Price Analysis Yesterday, there was a significant downward move below the $3,650 support level in bitcoin price against the US Dollar. The BTC\/USD pair even traded below the $3,560 support level and the 100 hourly simple moving average. It spiked below the $3,500 support and a low was formed near the $3,465 level. Later, the price recovered a few points above the $3,500 and $3,525 resistance levels. Besides, there was a break above the 23.6% Fib retracement level of the last drop from the $3,701 swing high to $3,467 low. However, the previous support near the $3,550 and $3,560 levels acted as a strong barrier for buyers. The price even struggled to test the 50% Fib retracement level of the last drop from the $3,701 swing high to $3,467 low. There were a couple of swing moves near the $3,550 level, with no upside break. At the outset, the price is trading inside an expanding triangle with resistance near the $3,580 level. Moreover, there is a major bearish trend line in place with resistance near $3,600 on the hourly chart of the BTC\/USD pair. Therefore, a break above the $3,580 and $3,600 resistance levels is needed for a decent recovery. Looking at the chart, bitcoin price may continue to trade in a range below the $3,550 and $3,580 levels. The next move in BTC could be either above the $3,600 resistance or below $3,480. Technical indicators Hourly MACD \u2013 The MACD for BTC\/USD is about to gain traction in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently well below the 50 level, with a bearish angle. Major Support Level \u2013 $3,480 Major Resistance Level \u2013 $3,600<\/p>\n","protected":false},"author":67,"featured_media":328923,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119],"class_list":["post-368842","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc"],"acf":[],"yoast_head":"\n<title>Bitcoin Price Watch: BTC At Continued Risk of Weakness<\/title>\n<meta name=\"description\" content=\"Bitcoin price started consolidating losses above the $3,480 support against the US Dollar. 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Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation. As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/uniquehot.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Watch: BTC At Continued Risk of Weakness","url":"http:\/\/uniquehot.com\/news\/bitcoin-price-watch-btc-at-continued-risk-of-weakness\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-price-watch-btc-at-continued-risk-of-weakness\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2018\/04\/techanalysis-btc2.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2018\/04\/techanalysis-btc2.jpg?fit=1200%2C600"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc"],"dateCreated":"2019-01-22T06:45:18Z","datePublished":"2019-01-22T06:45:18Z","dateModified":"2024-06-11T12:56:41Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Watch: BTC At Continued Risk of Weakness\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-watch-btc-at-continued-risk-of-weakness\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-watch-btc-at-continued-risk-of-weakness\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2018\\\/04\\\/techanalysis-btc2.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2018\\\/04\\\/techanalysis-btc2.jpg?fit=1200%2C600\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\"],\"dateCreated\":\"2019-01-22T06:45:18Z\",\"datePublished\":\"2019-01-22T06:45:18Z\",\"dateModified\":\"2024-06-11T12:56:41Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2018\/04\/techanalysis-btc2.jpg?fit=1200%2C600","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/368842"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=368842"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/368842\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/328923"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=368842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=368842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=368842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}