Bitcoin is gaining pace above the $19,500 resistance against the US Dollar. BTC could rise further above $20,000 if it stays above the $19,000 support.
Bitcoin started a decent increase and was able to clear the $19,500 resistance zone.
The price is trading above $19,000 and the 100 hourly simple moving average.
There was a break above a connecting bearish trend line with resistance near $19,220 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could stage a strong increase if it clears the $20,000 resistance zone.
Bitcoin Price Breaks Hurdle
Bitcoin price remained well bid above the $19,000 support zone. The crypto market was able to recover and BTC climbed higher above the $19,200 resistance zone.
There was a clear move above a connecting bearish trend line with resistance near $19,220 on the hourly chart of the BTC/USD pair. The pair even surpassed a major resistance zone near the $19,500 level to move into a positive zone.
Bitcoin price is now trading above $19,000 and the 100 hourly simple moving average. It traded as high as $19,863 and is currently consolidating gains.
It is trading well above the 23.6% Fib retracement level of the recent increase from the $18,645 swing low to $19,863 high. On the upside, an immediate resistance is near the $19,850 level. The next major resistance sits near the $20,000 zone.
Source: BTCUSD on TradingView.com
A close above the $20,000 level might push the price further into a bullish zone. In the stated case, the price could rise towards $20,500. Any more gains might lead the price higher towards the $21,000 resistance zone.
Dips Supported in BTC?
If bitcoin fails to rise above the $20,000 resistance zone, it could correct lower. An immediate support on the downside is near the $19,550 zone.
The next major support is near the $19,250 zone. It is near the 50% Fib retracement level of the recent increase from the $18,645 swing low to $19,863 high. The main support sits near the $19,000 level, below which the price might move into a bearish zone.
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 – $19,550, followed by $19,000.
Major Resistance Levels – $19,850, $20,000 and $20,500.
Bitcoin is gaining pace above the $19,500 resistance against the US Dollar. BTC could rise further above $20,000 if it stays above the $19,000 support.
Bitcoin started a decent increase and was able to clear the $19,500 resistance zone.
The price is trading above $19,000 and the 100 hourly simple moving average.
There was a break above a connecting bearish trend line with resistance near $19,220 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could stage a strong increase if it clears the $20,000 resistance zone.
Bitcoin price remained well bid above the $19,000 support zone. The crypto market was able to recover and BTC climbed higher above the $19,200 resistance zone.
There was a clear move above a connecting bearish trend line with resistance near $19,220 on the hourly chart of the BTC/USD pair. The pair even surpassed a major resistance zone near the $19,500 level to move into a positive zone.
Bitcoin price is now trading above $19,000 and the 100 hourly simple moving average. It traded as high as $19,863 and is currently consolidating gains.
It is trading well above the 23.6% Fib retracement level of the recent increase from the $18,645 swing low to $19,863 high. On the upside, an immediate resistance is near the $19,850 level. The next major resistance sits near the $20,000 zone.
Source: BTCUSD on TradingView.com
A close above the $20,000 level might push the price further into a bullish zone. In the stated case, the price could rise towards $20,500. Any more gains might lead the price higher towards the $21,000 resistance zone.
If bitcoin fails to rise above the $20,000 resistance zone, it could correct lower. An immediate support on the downside is near the $19,550 zone.
The next major support is near the $19,250 zone. It is near the 50% Fib retracement level of the recent increase from the $18,645 swing low to $19,863 high. The main support sits near the $19,000 level, below which the price might move into a bearish zone.
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 – $19,550, followed by $19,000.
Major Resistance Levels – $19,850, $20,000 and $20,500.
Tags: bitcoinbtcusdBTCUSDTxbtusd
NewsBTCRead More
The $100,000 call is the most popular bitcoin option on Deribit.Read MoreCoinDesk: Bitcoin, Ethereum, Crypto…
The firm now holds over 500 bitcoin after a first tranche of purchases in April.Read…
Crypto analyst Wisdom Matic has shared realistic price targets for Bitcoin (BTC), Dogwifhat (WIF), and…
The yen losses suggest the market is not worried about Ishiba's hawkish image and potential…
Data shows social media users had become overly excited about Bitcoin after the recent rally,…
PoliFi tokens are rallying as election countdown clock clicks on, and DeSci protocol BIO looks…
