{"id":369979,"date":"2019-02-01T06:45:40","date_gmt":"2019-02-01T06:45:40","guid":{"rendered":"https:\/\/uniquehot.com\/?p=369979"},"modified":"2024-06-11T13:33:17","modified_gmt":"2024-06-11T13:33:17","slug":"bitcoin-price-watch-btc-wont-go-quietly-risk-of-bounce-grows","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-watch-btc-wont-go-quietly-risk-of-bounce-grows\/","title":{"rendered":"Bitcoin Price Watch: BTC Won’t Go Quietly, Risk of Bounce Grows"},"content":{"rendered":"
Bitcoin price is struggling to gain momentum above $3,400 against the US Dollar. BTC price might test the $3,360 support before a fresh upward move above the $3,400 level.<\/em><\/p>\n Recently, we saw a decent recovery<\/a> above the $3,440 level in bitcoin price against the US Dollar. However, the BTC\/USD pair failed to break the $3,478-$3,480 resistance zone. As a result, there was a fresh decline below the $3,440 and $3,420 support levels. There was also a close below the $3,420 level and the 100 hourly simple moving average. Moreover, the price traded below the 50% Fib retracement level of the last wave from the $3,344 low to $3,478 high. Finally, the price broke the $3,400 level and tested the $3,375 support.<\/p>\n At the outset, the 76.4% Fib retracement level of the last wave from the $3,344 low to $3,478 high is acting as a support. If there is a downside break below the $3,375 support, the price might find bids near the $3,360 and $3,350 support levels. Below these, the price could trade to a new yearly low below the $3,320 level. On the upside, an initial resistance awaits at $3,400. There is also a major declining channel in place with resistance at $3,410 on the hourly chart of the BTC\/USD pair. A proper break above the channel and $3,420 could open the doors for more gains<\/a> in the near term.<\/p>\n <\/p>\nBitcoin Price Analysis<\/h2>\n