Bitcoin value corrected decrease beneath the $19,500 degree in opposition to the US Dollar. BTC stays in a key vary and buying and selling above the $19,000 help zone.
- Bitcoin failed to achieve power above $19,600 and corrected positive aspects.
- The value is buying and selling close to $19,250 and the 100 hourly easy shifting common.
- There was a break beneath a key bullish development line with help close to $19,400 on the hourly chart of the BTC/USD pair (knowledge feed from Kraken).
- The pair may try a contemporary improve except there’s a clear transfer beneath the $19,000 help.
Bitcoin Price Remains Supported
Bitcoin price made an attempt to gain pace above the $19,500 resistance zone. BTC even spiked above the $19,600 degree, however there was no comply with via transfer.
The value fashioned a excessive close to $19,696 and began a draw back correction. There was a transfer beneath the $19,500 and $19,400 ranges. Besides, there was a break beneath a key bullish development line with help close to $19,400 on the hourly chart of the BTC/USD pair.
Bitcoin value traded as little as $19,110 and is at present buying and selling in a variety. It is buying and selling close to $19,250 and the 100 hourly simple moving average. There was a break above the 23.6% Fib retracement degree of the current decline from the $19,696 swing excessive to $19,110 low.
On the upside, a right away resistance is close to the $19,400 degree. It is near the 50% Fib retracement degree of the current decline from the $19,696 swing excessive to $19,110 low.
Source: BTCUSD on TradingView.com
The first main resistance sits close to the $19,680 degree. A transparent transfer above the $19,680 resistance may begin a good improve. In the said case, the value could maybe take a look at the $20,000 resistance. Any extra positive aspects may begin a gentle improve in direction of the $21,200 resistance zone.
Downside Break in BTC?
If bitcoin fails to rise above the $19,400 resistance zone, it may proceed to maneuver down. An fast help on the draw back is close to the $19,100 zone.
The subsequent main help is close to the $19,000 zone. A draw back break and shut beneath the $19,000 help zone may begin a significant decline. In the said case, the value may decline in direction of the $18,500 help zone.
Technical indicators:
Hourly MACD – The MACD is now dropping tempo within the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now beneath the 50 degree.
Major Support Levels – $19,100, adopted by $19,000.
Major Resistance Levels – $19,400, $19,680 and $20,000.
