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Bitcoin worth climbed additional greater above $18,500. BTC examined the $19,000 resistance zone and is at the moment consolidating positive factors.

• 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 shifting common.
• There is a connecting bullish pattern 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 the direction of the $18,500 and $18,350 help ranges.

Bitcoin Price Tests $19K

Bitcoin worth 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, in contrast to ethereum.

The worth cleared the $18,800 resistance zone and even spiked above the $19,000 stage. A excessive is fashioned close to $19,098 and the value is now consolidating positive factors. There was a minor decline under the $18,900 stage. The worth declined under the 23.6% Fib retracement stage 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 shifting common. There can be a connecting bullish pattern 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 direct resistance is close to the $19,000 stage. The subsequent main resistance is close to the $19,200 zone, above which the value may begin one other regular improve. In the acknowledged case, the value could maybe rise in the direction of the $19,500 stage. Any extra positive factors may ship btc worth in the direction of the $20,000 stage.

Downside Correction in BTC?

If bitcoin worth fails to clear the $19,000 resistance, it might begin a draw back correction. An quick help on the draw back is close to the $18,650 stage.

The subsequent main help is close to the $18,500 stage and the pattern line. It is close to the 50% Fib retracement stage of the upward transfer from the $17,927 swing low to $19,098 excessive. The fundamental help is now forming close to the $17,800 stage, under which the value 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 stage.

Major Support Levels – $18,650, adopted by $18,500.

Major Resistance Levels – $19,000, $19,200 and $20,000.