{"id":368966,"date":"2019-01-23T06:30:20","date_gmt":"2019-01-23T06:30:20","guid":{"rendered":"https:\/\/uniquehot.com\/?p=368966"},"modified":"2024-06-11T12:57:21","modified_gmt":"2024-06-11T12:57:21","slug":"bitcoin-price-watch-btc-runs-into-crucial-resistance-whats-next","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-watch-btc-runs-into-crucial-resistance-whats-next\/","title":{"rendered":"Bitcoin Price Watch: BTC Runs Into Crucial Resistance, What\u2019s Next?"},"content":{"rendered":"
Bitcoin price is showing positive signs above the $3,520 level support against the US Dollar. Having said that, BTC is struggling to clear the key $3,600 resistance level.<\/em><\/p>\n Yesterday, we discussed the chances of more losses<\/a> below the $3,500 level in bitcoin price against the US Dollar. The BTC\/USD pair did decline below the $3,500 and $3,480 support levels. The pair spiked towards the $3,450 level and later bounced back. Buyers were successful in pushing the price back above $3,480 and $3,500. It can be considered as a false break since there was no hourly close below $3,480. The recent recovery was solid above $3,550 and the 50% Fib retracement level of the downside move from the $3,700 swing high to $3,465 low.<\/p>\n However, the price ran into a significant resistance near $3,600 and the 100 hourly simple moving average. More importantly, yesterday\u2019s highlighted key bearish trend line is intact with resistance near $3,600 on the hourly chart of the BTC\/USD pair. Finally, the 61.8% Fib retracement level of the downside move<\/a> from the $3,700 swing high to $3,465 low is also acting as a hurdle. Therefore, there are two possible scenarios, with the pivot level at $3,600. First, the price breaks the trend line and $3,600 to start a solid upward move. Second, buyers fail to gain traction above $3,600, resulting in a drop back to $3,500.<\/p>\n <\/p>\nBitcoin Price Analysis<\/h2>\n