Bitcoin worth climbed additional greater above $18,500. BTC examined the $19,000 resistance zone and is at the moment consolidating positive aspects.
- Bitcoin climbed additional greater above the $18,000 and $18,500 resistance ranges.
- The worth is buying and selling above $18,200 and the 100 hourly easy transferring common.
- There’s a connecting bullish pattern line forming with assist close to $18,600 on the hourly chart of the BTC/USD pair (knowledge feed from Kraken).
- The pair may appropriate decrease in the direction of the $18,500 and $18,350 assist ranges.
Bitcoin Value Exams $19K
Bitcoin worth remained nicely bid above the $18,000 zone. BTC shaped one other bullish breakout and was in a position to surge above the $18,500 resistance zone, in contrast to ethereum.
The worth cleared the $18,800 resistance zone and even spiked above the $19,000 degree. A excessive is shaped close to $19,098 and the value is now consolidating positive aspects. There was a minor decline beneath the $18,900 degree. The worth declined beneath the 23.6% Fib retracement degree of the upward transfer from the $17,927 swing low to $19,098 excessive.
Bitcoin worth is buying and selling above $18,200 and the 100 hourly easy transferring common. There may be additionally a connecting bullish pattern line forming with assist close to $18,600 on the hourly chart of the BTC/USD pair.
Supply: 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 value may begin one other regular improve. Within the said case, the value might maybe rise in the direction of the $19,500 degree. Any extra positive aspects may ship btc worth in the direction of the $20,000 degree.
Draw back Correction in BTC?
If bitcoin worth fails to clear the $19,000 resistance, it may begin a draw back correction. A direct assist on the draw back is close to the $18,650 degree.
The subsequent main assist is close to the $18,500 degree and the pattern line. It’s close to the 50% Fib retracement degree of the upward transfer from the $17,927 swing low to $19,098 excessive. The principle assist is now forming close to the $17,800 degree, beneath which the value may retest $17,000.
Technical indicators:
Hourly MACD – The MACD is now dropping tempo within the bullish zone.
Hourly RSI (Relative Power Index) – The RSI for BTC/USD is now above the 50 degree.
Main Assist Ranges – $18,650, adopted by $18,500.
Main Resistance Ranges – $19,000, $19,200 and $20,000.
