Bitcoin Price Watch: BTC Correcting Gains, But Dips Remain Supported

Key PointsBitcoin price recently traded as high as $3,919 and later started a downside correction against the US Dollar.
There is a major bearish trend line formed with resistance at $3,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The price must stay above the $3,740 support level to bounce back in the near term.Bitcoin price started a downside correction towards $3,700 against the US Dollar. BTC could climb higher once again if buyers continue to defend $3,740.
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