{"id":396047,"date":"2019-09-15T04:08:13","date_gmt":"2019-09-15T04:08:13","guid":{"rendered":"https:\/\/uniquehot.com\/?p=396047"},"modified":"2024-06-11T12:52:15","modified_gmt":"2024-06-11T12:52:15","slug":"bitcoin-btc-price-weekly-forecast-slow-and-steady-increase-likely","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-btc-price-weekly-forecast-slow-and-steady-increase-likely\/","title":{"rendered":"Bitcoin (BTC) Price Weekly Forecast: Slow And Steady Increase Likely"},"content":{"rendered":"<ul>\n<li>There was a downside correction from the $10,954 swing high in bitcoin price against the US Dollar.<\/li>\n<li>The price is holding the $10,000 support and it could bounce back in the near term.<\/li>\n<li>There is a major bullish trend line forming with support near $10,140 on the 4-hours chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The price could dip in the short term before it starts a fresh increase above $10,500 in the near term.<\/li>\n<\/ul>\n<p><em>Bitcoin price is showing positive signs above $10,000 against the US Dollar. BTC could rise steadily as long as there is no close below the $10,000 support area.<\/em><\/p>\n<h2>Bitcoin Price Weekly Analysis (BTC)<\/h2>\n<p>In the last weekly forecast, we saw bitcoin price holding the key $10,000 support area against the US Dollar. The BTC\/USD pair climbed higher and traded above the $10,000 resistance area. Moreover, there was a break above the $10,800 level and the 100 simple moving average (4-hours). However, the price failed to continue higher and topped below the $11,000 resistance.<\/p>\n<p>A swing high was formed near $10,954 and recently the price started a fresh decline. It broke the key $10,500 support area and the 100 SMA. Moreover, the price spiked below the $10,000 support area. Finally, a swing low was formed near $9,903 and the price is currently correcting higher. It broke the 23.6% Fib retracement level of the last decline from the $10,954 high to $9,903 low.<\/p>\n<p>However, the upward move is <a href=\"https:\/\/uniquehot.com\/2019\/09\/13\/bitcoin-price-btc-rebounding-but-can-bulls-overcome-10500\/\" target=\"_blank\" rel=\"noopener noreferrer \">facing hurdles near the $10,400 and $10,500 levels<\/a>. Additionally, the price is also struggling to climb above the 50% Fib retracement level of the last decline from the $10,954 high to $9,903 low. If there is a break above the $10,450 and $10,500 levels, the price could continue to rise. The next key resistance is near the $10,800 level.<\/p>\n<p>On the downside, there are many supports near the $10,100 and $10,000 levels. Additionally, there is a major bullish trend line forming with support near $10,140 on the 4-hours chart of the BTC\/USD pair. If there is a <a href=\"https:\/\/uniquehot.com\/2019\/09\/12\/bitcoin-price-btc-showing-signs-of-continued-weakness\/\" target=\"_blank\" rel=\"noopener noreferrer \">downside break<\/a> below the trend line and the $10,000 support, the price could resume its decline.<\/p>\n<p><a href=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/09\/Bitcoin-12.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-396048\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/09\/Bitcoin-12.png?resize=1508%2C654\" alt=\"Bitcoin Price Weekly Analysis (BTC) Chart\" width=\"1508\" height=\"654\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/09\/Bitcoin-12.png?w=1508 1508w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/09\/Bitcoin-12.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/09\/Bitcoin-12.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/09\/Bitcoin-12.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/09\/Bitcoin-12.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/09\/Bitcoin-12.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Looking at the <a href=\"https:\/\/www.tradingview.com\/symbols\/XBTUSD\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">chart<\/a>, bitcoin price seems to be consolidating in a contracting range below the $10,500 resistance. It might soon break the $10,500 resistance and continue higher. Conversely, a downside break below $10,000 could start a strong decline in the coming sessions.<\/p>\n<h2>Technical indicators<\/h2>\n<p>4 hours MACD \u2013 The MACD for BTC\/USD is slowly moving back into the bullish zone.<\/p>\n<p>4 hours RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently stable above the 50 level.<\/p>\n<p>Major Support Level \u2013 $10,000<\/p>\n<p>Major Resistance Level \u2013 $10,500<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There was a downside correction from the $10,954 swing high in bitcoin price against the US Dollar. The price is holding the $10,000 support and it could bounce back in the near term. There is a major bullish trend line forming with support near $10,140 on the 4-hours chart of the BTC\/USD pair (data feed from Kraken). The price could dip in the short term before it starts a fresh increase above $10,500 in the near term. Bitcoin price is showing positive signs above $10,000 against the US Dollar. BTC could rise steadily as long as there is no close below the $10,000 support area. Bitcoin Price Weekly Analysis (BTC) In the last weekly forecast, we saw bitcoin price holding the key $10,000 support area against the US Dollar. The BTC\/USD pair climbed higher and traded above the $10,000 resistance area. Moreover, there was a break above the $10,800 level and the 100 simple moving average (4-hours). However, the price failed to continue higher and topped below the $11,000 resistance. A swing high was formed near $10,954 and recently the price started a fresh decline. It broke the key $10,500 support area and the 100 SMA. Moreover, the price spiked below the $10,000 support area. Finally, a swing low was formed near $9,903 and the price is currently correcting higher. It broke the 23.6% Fib retracement level of the last decline from the $10,954 high to $9,903 low. However, the upward move is facing hurdles near the $10,400 and $10,500 levels. Additionally, the price is also struggling to climb above the 50% Fib retracement level of the last decline from the $10,954 high to $9,903 low. If there is a break above the $10,450 and $10,500 levels, the price could continue to rise. The next key resistance is near the $10,800 level. On the downside, there are many supports near the $10,100 and $10,000 levels. Additionally, there is a major bullish trend line forming with support near $10,140 on the 4-hours chart of the BTC\/USD pair. If there is a downside break below the trend line and the $10,000 support, the price could resume its decline. Looking at the chart, bitcoin price seems to be consolidating in a contracting range below the $10,500 resistance. It might soon break the $10,500 resistance and continue higher. Conversely, a downside break below $10,000 could start a strong decline in the coming sessions. Technical indicators 4 hours MACD \u2013 The MACD for BTC\/USD is slowly moving back into the bullish zone. 4 hours RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently stable above the 50 level. Major Support Level \u2013 $10,000 Major Resistance Level \u2013 $10,500<\/p>\n","protected":false},"author":67,"featured_media":393411,"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-396047","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 Weekly Forecast: Slow And Steady Increase Likely<\/title>\n<meta name=\"description\" content=\"Bitcoin price is showing positive signs above $10,000 against the US Dollar. 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