{"id":16155,"date":"2023-01-13T03:10:31","date_gmt":"2023-01-13T03:10:31","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/01\/13\/bitcoin-price-spikes-to-19k-why-btc-could-correct-lower-in-short-term\/"},"modified":"2023-01-13T03:10:31","modified_gmt":"2023-01-13T03:10:31","slug":"bitcoin-price-spikes-to-19k-why-btc-could-correct-lower-in-short-term","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/01\/13\/bitcoin-price-spikes-to-19k-why-btc-could-correct-lower-in-short-term\/","title":{"rendered":"Bitcoin Price Spikes To $19K, Why BTC Could Correct Lower In Short Term"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>Bitcoin worth climbed additional greater above $18,500. BTC examined the $19,000 resistance zone and is at the moment consolidating positive factors.<\/em><\/p>\n<ul>\n<li>Bitcoin climbed additional greater above the $18,000 and $18,500 resistance ranges.<\/li>\n<li>The worth is buying and selling above $18,200 and the 100 hourly easy shifting common.<\/li>\n<li>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).<\/li>\n<li>The pair might appropriate decrease in the direction of the $18,500 and $18,350 help ranges.<\/li>\n<\/ul>\n<h2>Bitcoin Price Tests $19K<\/h2>\n<p>Bitcoin worth <a href=\"https:\/\/newsbtc.com\/analysis\/btc\/bitcoin-price-surges-past-18k\/\" target=\"_blank\" rel=\"noopener\">remained well bid above the $18,000 zone<\/a>. BTC fashioned one other bullish breakout and was in a position to surge above the $18,500 resistance zone, in contrast to <a href=\"https:\/\/newsbtc.com\/analysis\/eth\/ethereum-price-climbs-5-pc\/\" target=\"_blank\" rel=\"noopener\">ethereum<\/a>.<\/p>\n<p>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.<\/p>\n<p>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.<\/p>\n<p><a href=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Bitcoin-10.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-515879\" src=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Bitcoin-10.png\" alt=\"Bitcoin Price Spikes To $19K\" width=\"1834\" height=\"845\" srcset=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Bitcoin-10.png 1834w, https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Bitcoin-10-460x212.png 460w, https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Bitcoin-10-860x396.png 860w, https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Bitcoin-10-768x354.png 768w, https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Bitcoin-10-1536x708.png 1536w, https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Bitcoin-10-750x346.png 750w, https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Bitcoin-10-1140x525.png 1140w\" sizes=\"auto, (max-width: 1834px) 100vw, 1834px\"\/><\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"nofollow noopener\">BTCUSD on TradingView.com<\/a><\/p>\n<p>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.<\/p>\n<h2>Downside Correction in BTC?<\/h2>\n<p>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.<\/p>\n<p>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.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now shedding tempo within the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 stage.<\/p>\n<p>Major Support Levels \u2013 $18,650, adopted by $18,500.<\/p>\n<p>Major Resistance Levels \u2013 $19,000, $19,200 and $20,000.<\/p>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/newsbtc.com\/analysis\/btc\/bitcoin-price-spikes-to-19k\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] 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 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