{"id":369862,"date":"2019-01-31T06:45:15","date_gmt":"2019-01-31T06:45:15","guid":{"rendered":"https:\/\/uniquehot.com\/?p=369862"},"modified":"2024-06-11T13:33:17","modified_gmt":"2024-06-11T13:33:17","slug":"bitcoin-price-watch-btc-rebound-reaching-crucial-juncture","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-watch-btc-rebound-reaching-crucial-juncture\/","title":{"rendered":"Bitcoin Price Watch: BTC Rebound Reaching Crucial Juncture"},"content":{"rendered":"
Bitcoin price recovered nicely from the $3,340 swing low against the US Dollar. However, BTC price is still below a few key hurdles near the $3,475 and $3,500 levels.<\/em><\/p>\n Recently, bitcoin price formed a decent support near $3,360 against the US Dollar. The BTC\/USD pair started a short term rebound<\/a> and moved above the $3,400 resistance zone. Buyers managed to overcome selling pressure above the $3,400 and $3,420 pivot levels. The price climbed above the 50% Fib retracement level of the last slide from the $3,560 high to $3,345 swing low. It opened the doors for more gains and the price spiked above $3,450 and the 100 hourly simple moving average.<\/p>\n More importantly, this week\u2019s followed major bearish trend line was breached with resistance at $3,440 on the hourly chart of the BTC\/USD pair. The pair tested the $3,475 resistance area, where sellers emerged<\/a>. Besides, the 61.8% Fib retracement level of the last slide from the $3,560 high to $3,345 swing low acted as a resistance. The price is currently consolidating gains near $3,440 and the 100 hourly SMA. On the downside, there is a decent support formed near $3,420. There is also a connecting bullish trend line formed with support at $3,410 on the same chart. Therefore, buyers could protect declines below $3,400 if there is a downside correction.<\/p>\n <\/p>\nBitcoin Price Analysis<\/h2>\n