Bitcoin Value Surges Previous $18K and Now The Bulls Might Purpose $19K

Bitcoin worth prolonged its enhance and surged above $18,000. BTC is gaining tempo and may rise in the direction of the $19,000 resistance zone.

• Bitcoin prolonged its rise above the $17,500 and $18,000 resistance ranges.
• The worth is buying and selling above $18,000 and the 100 hourly easy transferring common.
• There’s a key bullish pattern line forming with assist close to $17,400 on the hourly chart of the BTC/USD pair (information feed from Kraken).
• The pair might proceed to maneuver up in the direction of the $19,000 resistance zone.

Bitcoin Value Rallies 5%

Bitcoin worth gained tempo after there was an in depth above the $17,000 pivot zone. BTC accelerated greater above the $17,250 resistance zone to maneuver right into a optimistic zone, just like ethereum.

The worth climbed above the $17,500 resistance zone to start out a powerful enhance. The bulls even pumped the value above the $18,000 resistance zone. A excessive was shaped close to $18,367 and the value is now consolidating positive aspects.

Bitcoin worth is buying and selling above $18,000 and the 100 hourly easy transferring common. There’s additionally a key bullish pattern line forming with assist close to $17,400 on the hourly chart of the BTC/USD pair. Additionally it is nicely above the 23.6% Fib retracement stage of the current surge from the $17,308 swing low to $18,367 excessive.

Supply: BTCUSD on TradingView.com

On the upside, a right away resistance is close to the $18,350 stage. The following main resistance is close to the $18,500 zone, above which the value may proceed to maneuver up. Within the acknowledged case, the value might maybe rise in the direction of the $19,200 stage. Any extra positive aspects may ship btc worth in the direction of the $20,000 stage.

Dips Engaging in BTC?

If bitcoin worth fails to clear the $18,350 resistance, it might begin a draw back correction. A right away assist on the draw back is close to the $18,120 stage.

The following main assist is close to the $17,800 stage. It’s close to the 50% Fib retracement stage of the current surge from the $17,308 swing low to $18,367 excessive. The primary assist is now forming close to the $17,400 stage and the pattern line, under which the value may retest $17,000.

Technical indicators:

Hourly MACD – The MACD is now gaining tempo within the bullish zone.

Hourly RSI (Relative Power Index) – The RSI for BTC/USD is now above the 50 stage.

Main Help Ranges – $18,120, adopted by $17,800.

Main Resistance Ranges – $18,350, $18,500 and $19,200.