{"id":390390,"date":"2019-07-19T06:00:38","date_gmt":"2019-07-19T06:00:38","guid":{"rendered":"https:\/\/uniquehot.com\/?p=390390"},"modified":"2024-06-11T12:54:21","modified_gmt":"2024-06-11T12:54:21","slug":"bitcoin-price-btc-rallies-10-dips-remain-attractive-to-buyers","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-btc-rallies-10-dips-remain-attractive-to-buyers\/","title":{"rendered":"Bitcoin Price (BTC) Rallies 10%, Dips Remain Attractive To Buyers"},"content":{"rendered":"
Bitcoin price surged more than 10% above $10,500 against the US Dollar. BTC is currently consolidating gains and dips are likely to find a strong support above $10,000 and $10,200.<\/em><\/p>\n In the past few days, we saw a major drop<\/a> in bitcoin price below the $10,000 support against the US Dollar. The BTC\/USD pair traded close the $9,000 support level and formed a new monthly low near $9,095. Later, the price formed a decent support base above $9,400 and recently started an upward move. It surged more than $1,000 and broke the key $10,000 resistance.<\/p>\n There was a break above the 61.8% Fib retracement level of the last key drop from the $11,060 swing high to $9,100 swing low. Moreover, there was a break above a major bearish trend line with resistance near $9,800 on the hourly chart of the BTC\/USD pair. The pair even settled above the $10,400 level and the 100 hourly simple moving average<\/a>. The upward move was such that the price tested the $10,800 resistance and a swing high was formed near $10,807.<\/p>\n The price is currently consolidating below $10,800 and trading inside a contracting triangle. If there is a downside break, the price could test $10,440 or the 23.6% Fib retracement level of the recent wave from the $9,271 low to $10,807 high. However, the main support on the downside is near the $10,200 level and the 100 hourly simple moving average.<\/p>\n Moreover, the 50% Fib retracement level of the recent wave from the $9,271 low to $10,807 high is also near the $10,040 level. Therefore, dips towards the $10,400 and $10,200 levels are likely to find a lot of buyers. On the upside, a break above the $10,800 resistance might start another rise.<\/p>\nBitcoin Price Analysis<\/h2>\n