{"id":381276,"date":"2019-05-08T06:00:22","date_gmt":"2019-05-08T06:00:22","guid":{"rendered":"https:\/\/uniquehot.com\/?p=381276"},"modified":"2024-06-11T12:51:11","modified_gmt":"2024-06-11T12:51:11","slug":"bitcoin-btc-price-strong-buy-binance-hack","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-btc-price-strong-buy-binance-hack\/","title":{"rendered":"Bitcoin (BTC) Price Remains Strong Buy On Dips Despite Binance Hack"},"content":{"rendered":"
Bitcoin price started a downside correction after testing $5,950-6,000 against the US Dollar. BTC remains well supported in the short term near the $5,740 and $5,560 levels.<\/em><\/p>\n Yesterday, there was a fresh rise<\/a> in bitcoin price above the $5,850 resistance against the US Dollar. The BTC\/USD pair climbed above the $5,900 level and traded close to the $6,000 resistance level. A new 2019 high was formed near $5,965 and the price recently corrected lower. There was a sharp dip below the $5,900 level, triggered by the report of 7,000 BTC hack news from the cryptocurrency exchange, Binance. The price declined below the $5,800 support and the 50% Fib retracement level of the last wave from the $5,563 low to $5,962 high.<\/p>\n During the decline, there was a break below a connecting bullish trend line with support near $5,840 on the hourly chart of the BTC\/USD pair. The pair even spiked below the $5,700 level and the 100 hourly simple moving average. It tested the 76.4% Fib retracement level of the last wave from the $5,563 low to $5,962 high. After tagging the $5,670 level, the price bounced back. It is currently trading above the $5,750 level and the 100 hourly simple moving average.<\/p>\n On the upside, an immediate resistance is near the $5,840 level. If there is an upside break<\/a> above the $5,840 level, the price may retest the $5,900 level. Any further gains could push the price towards the $5,950-5,960 resistance zone. On the downside, an initial support is at $5,760. The next key support is near the $5,740 level and the 100 hourly SMA.<\/p>\n <\/p>\nBitcoin Price Analysis<\/h2>\n