Bitcoin Price Watch: BTC Could Correct Lower Before Fresh Rally | | Yoga Beauty Health
Bitcoin price rallied towards the $3,750 level and later started a downside correction against the US Dollar.There is a key bearish trend line formed with resistance at $3,640 on the hourly chart of the BTC/USD pair (data feed from Kraken).The price is likely to correct lower towards the $3,550 or $3,500 support levels before a fresh rally.Bitcoin price climbed higher and settled above the $3,500 resistance against the US Dollar. BTC is currently correcting lower, but dips remain supported above the 100 hourly SMA.Bitcoin Price AnalysisIn the weekly analysis, we saw a solid upward move above $3,500 in bitcoin price against the US Dollar. The BTC/USD pair even broke the $3,600 and $3,650 resistance levels. A fresh yearly high was formed at $3,745 and the price settled above the 100 hourly simple moving average. Later, the price started a downside correction and traded below the $3,700 and $3,650 levels. There was a break below the 23.6% Fib retracement level of the last wave from the $3