{"id":380007,"date":"2019-04-28T05:00:42","date_gmt":"2019-04-28T05:00:42","guid":{"rendered":"https:\/\/uniquehot.com\/?p=380007"},"modified":"2024-06-11T12:49:51","modified_gmt":"2024-06-11T12:49:51","slug":"bitcoin-btc-price-buy-dips","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-btc-price-buy-dips\/","title":{"rendered":"Bitcoin (BTC) Price Eyeing Last Line Of Defense: Buy Dips?"},"content":{"rendered":"<ul>\n<li>There was a strong decline in bitcoin price below the $5,280 support level against the US Dollar.<\/li>\n<li>The price even spiked below the $5,000 support level and it is currently consolidating above $5,100.<\/li>\n<li>There is a major bullish trend line in place with support at $5,080 on the 4-hours chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could bounce back as long as there is no weekly close below the $5,000 support level.<\/li>\n<\/ul>\n<p><em>Bitcoin price started consolidating losses after a strong decline against the US Dollar. BTC is likely to recover above $5,200 and $5,280 in the near term unless the $5,000 gives way.<\/em><\/p>\n<h2>Bitcoin Price Weekly Analysis (BTC)<\/h2>\n<p>This past week, there was a <a href=\"https:\/\/uniquehot.com\/2019\/04\/27\/bitcoin-btc-price-weakness-sell-rallies\/\" target=\"_blank\" rel=\"noopener noreferrer \">significant rejection<\/a> in bitcoin price near the $5,660 level against the US Dollar. The BTC\/USD pair started a strong downward move below $5,400 after tether\u2019s drama. The price tumbled below the key $5,280 and $5,200 support levels. There was even a spike below $5,000, plus a close below the 100 simple moving average (4-hours). A swing low was formed near the $4,910 level and recently the price recovered above $5,000 and $5,050.<\/p>\n<p>At the moment, the price is testing the 50% Fib retracement level of the last drop from the $5,510 swing high to $4,910 swing low. However, the $5,220 area and the 100 simple moving average (4-hours) are acting as hurdles. Above $5,220, there is a major resistance near $5,280 and a connecting bearish trend line. The 61.8% Fib retracement level of the last drop from the $5,510 swing high to $4,910 swing low is also near the $5,280 level. A successful close above the $5,280 level might trigger a decent recovery in the near term.<\/p>\n<p>On the downside, there is a major bullish trend line in place with support at $5,080 on the 4-hours chart of the BTC\/USD pair. The trend line support near $5,080 is very important, below which the price could test $5,000. If there is a daily close below $5,000, the price is likely to <a href=\"https:\/\/uniquehot.com\/2019\/04\/26\/bitcoin-btc-price-tumbles-trend-change-or-correction\/\" target=\"_blank\" rel=\"noopener noreferrer \">move further into a bearish zone<\/a>. In the mentioned case, the price will most likely test $4,800 or $4,750.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-380008\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/04\/Bitcoin-28.png?resize=1828%2C868\" alt=\"Bitcoin Price Weekly Analysis (BTC)\" width=\"1828\" height=\"868\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/04\/Bitcoin-28.png?w=1828 1828w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/04\/Bitcoin-28.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/04\/Bitcoin-28.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/04\/Bitcoin-28.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/04\/Bitcoin-28.png?w=1536 1536w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/04\/Bitcoin-28.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/04\/Bitcoin-28.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 noreferrer nofollow\">chart<\/a>, bitcoin price faced a strong selling interest below $5,400. However, it managed to stay above the $5,000 support. Therefore, there are chances of a recovery above the $5,280 resistance levels. If there is a close above $5,280, there are chances of move towards $5,400 or even $5,500.<\/p>\n<h2>Technical indicators<\/h2>\n<p>4 hours MACD \u2013 The MACD for BTC\/USD is slowly moving into the bullish zone.<\/p>\n<p>4 hours RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is back above the 40 level, with a few positive signs.<\/p>\n<p>Major Support Level \u2013 $5,050<\/p>\n<p>Major Resistance Level \u2013 $5,280<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There was a strong decline in bitcoin price below the $5,280 support level against the US Dollar. The price even spiked below the $5,000 support level and it is currently consolidating above $5,100. There is a major bullish trend line in place with support at $5,080 on the 4-hours chart of the BTC\/USD pair (data feed from Kraken). The pair could bounce back as long as there is no weekly close below the $5,000 support level. Bitcoin price started consolidating losses after a strong decline against the US Dollar. BTC is likely to recover above $5,200 and $5,280 in the near term unless the $5,000 gives way. Bitcoin Price Weekly Analysis (BTC) This past week, there was a significant rejection in bitcoin price near the $5,660 level against the US Dollar. The BTC\/USD pair started a strong downward move below $5,400 after tether\u2019s drama. The price tumbled below the key $5,280 and $5,200 support levels. There was even a spike below $5,000, plus a close below the 100 simple moving average (4-hours). A swing low was formed near the $4,910 level and recently the price recovered above $5,000 and $5,050. At the moment, the price is testing the 50% Fib retracement level of the last drop from the $5,510 swing high to $4,910 swing low. However, the $5,220 area and the 100 simple moving average (4-hours) are acting as hurdles. Above $5,220, there is a major resistance near $5,280 and a connecting bearish trend line. The 61.8% Fib retracement level of the last drop from the $5,510 swing high to $4,910 swing low is also near the $5,280 level. A successful close above the $5,280 level might trigger a decent recovery in the near term. On the downside, there is a major bullish trend line in place with support at $5,080 on the 4-hours chart of the BTC\/USD pair. The trend line support near $5,080 is very important, below which the price could test $5,000. If there is a daily close below $5,000, the price is likely to move further into a bearish zone. In the mentioned case, the price will most likely test $4,800 or $4,750. Looking at the chart, bitcoin price faced a strong selling interest below $5,400. However, it managed to stay above the $5,000 support. Therefore, there are chances of a recovery above the $5,280 resistance levels. If there is a close above $5,280, there are chances of move towards $5,400 or even $5,500. Technical indicators 4 hours MACD \u2013 The MACD for BTC\/USD is slowly moving into the bullish zone. 4 hours RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is back above the 40 level, with a few positive signs. Major Support Level \u2013 $5,050 Major Resistance Level \u2013 $5,280<\/p>\n","protected":false},"author":67,"featured_media":344599,"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-380007","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc"],"acf":[],"yoast_head":"\n<title>Bitcoin (BTC) Price Eyeing Last Line Of Defense: Buy Dips?<\/title>\n<meta name=\"description\" content=\"Bitcoin price started consolidating losses after a strong decline against the US Dollar. 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