Bitcoin price gained pace and cleared the $17,000 resistance. BTC is showing positive signs and might rise towards the $18,000 resistance.
Bitcoin started a fresh increase above the $16,800 and $17,000 resistance levels.
The price is trading above $16,800 and the 100 hourly simple moving average.
There is a major bullish trend line forming with support near $16,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could rise further towards the next hurdle near the $18,000 resistance.
Bitcoin price formed a support base above the $16,650 level. BTC remained well bid and started a fresh increase above the $16,800 and $17,000 resistance levels.
There was a close above the $17,000 level and the 100 hourly simple moving average. The price traded to a new yearly high at $17,244 and broke a major barrier. It is now consolidating gains above the $17,000 level. It is also trading above the 23.6% Fib retracement level of the upward move from the $16,910 swing low to $17,244 high.
Bitcoin price is now trading above $16,800 and the 100 hourly simple moving average. There is also a major bullish trend line forming with support near $16,800 on the hourly chart of the BTC/USD pair.
Source: BTCUSD on TradingView.com
On the upside, an immediate resistance is near the $17,250 level. The next major resistance is near the $17,500 zone. A clear move and close above the $17,500 resistance might start another rally in the near term. In the stated case, the price may perhaps rise towards the $18,000 level. Any more gains might call for a move towards the $18,500 level.
If bitcoin price fails to clear the $17,250 resistance, it could start a downside correction. An immediate support on the downside is near the $17,150 level.
The next major support is near the $17,000 level. It is near the 50% Fib retracement level of the upward move from the $16,910 swing low to $17,244 high. The main support is now forming near the $17,000 zone, below which the price might retest $16,800.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.
Major Support Levels – $17,150, followed by $17,000.
Major Resistance Levels – $17,250, $17,500 and $18,000.
Bitcoin price gained pace and cleared the $17,000 resistance. BTC is showing positive signs and might rise towards the $18,000 resistance.
Bitcoin started a fresh increase above the $16,800 and $17,000 resistance levels.
The price is trading above $16,800 and the 100 hourly simple moving average.
There is a major bullish trend line forming with support near $16,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could rise further towards the next hurdle near the $18,000 resistance.
Bitcoin price formed a support base above the $16,650 level. BTC remained well bid and started a fresh increase above the $16,800 and $17,000 resistance levels.
There was a close above the $17,000 level and the 100 hourly simple moving average. The price traded to a new yearly high at $17,244 and broke a major barrier. It is now consolidating gains above the $17,000 level. It is also trading above the 23.6% Fib retracement level of the upward move from the $16,910 swing low to $17,244 high.
Bitcoin price is now trading above $16,800 and the 100 hourly simple moving average. There is also a major bullish trend line forming with support near $16,800 on the hourly chart of the BTC/USD pair.
Source: BTCUSD on TradingView.com
On the upside, an immediate resistance is near the $17,250 level. The next major resistance is near the $17,500 zone. A clear move and close above the $17,500 resistance might start another rally in the near term. In the stated case, the price may perhaps rise towards the $18,000 level. Any more gains might call for a move towards the $18,500 level.
If bitcoin price fails to clear the $17,250 resistance, it could start a downside correction. An immediate support on the downside is near the $17,150 level.
The next major support is near the $17,000 level. It is near the 50% Fib retracement level of the upward move from the $16,910 swing low to $17,244 high. The main support is now forming near the $17,000 zone, below which the price might retest $16,800.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.
Major Support Levels – $17,150, followed by $17,000.
Major Resistance Levels – $17,250, $17,500 and $18,000.
Tags: bitcoinbitcoin pricebtcusdBTCUSDTxbtusd
NewsBTCRead More
Despite heightened expectations for the Bitcoin price to hit the $100,000 milestone, a crypto analyst…
The price of Bitcoin picked up this week from where it left off in the…
A crypto analyst who accurately forecasted the Bitcoin price increase to the $99,000 All-Time High…
On-chain data shows a majority of the Bitcoin supply hasn’t moved in more than two…
Cboe, the derivatives exchange for digital assets and securities trading, is set to make a…
The ongoing Bitcoin bull market has sparked renewed interest in on-chain metrics to fully understand…
