Bitcoin value climbed additional larger above $18,500. BTC examined the $19,000 resistance zone and is at present consolidating positive factors.
- Bitcoin climbed additional larger above the $18,000 and $18,500 resistance ranges.
- The value is buying and selling above $18,200 and the 100 hourly easy shifting common.
- There is a connecting bullish development line forming with help close to $18,600 on the hourly chart of the BTC/USD pair (information feed from Kraken).
- The pair might appropriate decrease in direction of the $18,500 and $18,350 help ranges.
Bitcoin Price Tests $19K
Bitcoin value remained well bid above the $18,000 zone. BTC fashioned one other bullish breakout and was in a position to surge above the $18,500 resistance zone, not like ethereum.
The value cleared the $18,800 resistance zone and even spiked above the $19,000 degree. A excessive is fashioned close to $19,098 and the worth is now consolidating positive factors. There was a minor decline under the $18,900 degree. The value declined under the 23.6% Fib retracement degree of the upward transfer from the $17,927 swing low to $19,098 excessive.
Bitcoin value is buying and selling above $18,200 and the 100 hourly easy shifting common. There can also be a connecting bullish development line forming with help close to $18,600 on the hourly chart of the BTC/USD pair.
Source: BTCUSD on TradingView.com
On the upside, a right away resistance is close to the $19,000 degree. The subsequent main resistance is close to the $19,200 zone, above which the worth may begin one other regular improve. In the said case, the worth might maybe rise in direction of the $19,500 degree. Any extra positive factors may ship btc value in direction of the $20,000 degree.
Downside Correction in BTC?
If bitcoin value fails to clear the $19,000 resistance, it might begin a draw back correction. An rapid help on the draw back is close to the $18,650 degree.
The subsequent main help is close to the $18,500 degree and the development line. It is close to the 50% Fib retracement degree of the upward transfer from the $17,927 swing low to $19,098 excessive. The primary help is now forming close to the $17,800 degree, under which the worth may retest $17,000.
Technical indicators:
Hourly MACD – The MACD is now shedding tempo within the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 degree.
Major Support Levels – $18,650, adopted by $18,500.
Major Resistance Levels – $19,000, $19,200 and $20,000.
