{"id":383245,"date":"2019-05-22T06:00:31","date_gmt":"2019-05-22T06:00:31","guid":{"rendered":"https:\/\/uniquehot.com\/?p=383245"},"modified":"2024-06-11T12:51:18","modified_gmt":"2024-06-11T12:51:18","slug":"bitcoin-btc-price-trading-sideways-bulls-eyeing-fresh-increase","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-btc-price-trading-sideways-bulls-eyeing-fresh-increase\/","title":{"rendered":"Bitcoin (BTC) Price Trading Sideways: Bulls Eyeing Fresh Increase"},"content":{"rendered":"
Bitcoin price is struggling to climb further higher within range against the US Dollar. BTC might decline in the short term before a fresh rise above the $8,200 resistance.<\/em><\/p>\n In the past few sessions, there were swing moves<\/a> in bitcoin price below the $8,200 resistance area against the US Dollar. The BTC\/USD pair recently climbed from the $7,578 swing low to $8,172. However, the pair failed to climb further higher and started a fresh decline below the $8,150 level. There was a break below the $8,050 support and the 50% Fib retracement level of the last wave from the $7,578 swing low to $8,172 high. Moreover, there was a break below the key $8,000 support area.<\/p>\n More importantly, this week\u2019s followed key bullish trend line was breached with support near $7,980 on the hourly chart of the BTC\/USD pair. The pair tagged the $7,820 level and the 61.8% Fib retracement level of the last wave from the $7,578 swing low to $8,172 high. The main supports on the downside are near $7,820 and $7,800. Besides, the 100 hourly simple moving average is also near the $7,800 level to prevent a downside break. If there are more losses, the price could revisit the key $7,660 and $7,620 support levels.<\/p>\n On the upside, an immediate resistance is near the $8,000 level. A successful break above the $8,000 barrier could push the price towards the $8,150 level. Having said that, the price could start a strong upward move<\/a> if it climbs above the $8,200 level in the near term.<\/p>\nBitcoin Price Analysis<\/h2>\n