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Bitcoin worth is holding beneficial properties above the $19,000 stage in opposition to the US Dollar. BTC might rally if there’s a clear transfer above the $19,660 resistance zone.

• Bitcoin remained secure and consolidated above the $19,000 assist zone.
• The worth is buying and selling above $19,100 and the 100 hourly easy shifting common.
• There is a key bullish development line forming with assist close to $19,220 on the hourly chart of the BTC/USD pair (information feed from Kraken).
• The pair might begin a contemporary surge if there’s a clear transfer above the $19,660 resistance zone.

Bitcoin Price Consolidates

Bitcoin worth began a restoration wave from the $18,500 support zone. BTC bulls remained lively above the $18,500 stage and managed to push the value above the $19,000 resistance zone.

There was a transparent transfer above the 50% Fib retracement stage of the important thing decline from the $20,382 swing excessive to $18,486 low. The worth even climbed above the $19,500 resistance zone, however the bears had been lively close to the $19,650 and $19,660 ranges.

Bitcoin worth is now consolidating above $19,100 and the 100 hourly simple moving average. There can be a key bullish development line forming with assist close to $19,220 on the hourly chart of the BTC/USD pair.

On the upside, a direct resistance is close to the $19,500 stage. The subsequent main resistance sits close to the $19,660 zone. It is near the 61.8% Fib retracement stage of the important thing decline from the $20,382 swing excessive to $18,486 low.

Source: BTCUSD on TradingView.com

A transparent transfer above the $19,660 resistance would possibly begin a contemporary enhance. In the said case, the value might even surpass the $20,000 resistance zone. The subsequent main resistance is close to the $20,500 zone, above which the value might maybe revisit the $21,000 zone.

Another Drop in BTC?

If bitcoin fails to rise above the $19,660 resistance zone, it might begin a contemporary decline. An rapid assist on the draw back is close to the $19,350 zone and the 100 hourly SMA.

The subsequent main assist is close to the $19,220 zone and the bullish development line. The principal assist is close to $19,000. Any extra losses would possibly name for a drop in the direction of the $18,500 assist zone within the coming classes.

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 stage.

Major Support Levels – $19,220, adopted by $19,000.

Major Resistance Levels – $19,660, $20,000 and $20,500.