Bitcoin worth is slowly climbing above $19,500 in opposition to the US Greenback. BTC may begin a gradual rise if there’s a shut above $19,600 and $20,000.
- Bitcoin remained bid nicely above the $19,200 and $19,000 assist ranges.
- The worth is trading above $19,400 and the 100 hourly easy shifting common.
- There’s a key bullish pattern line forming with assist close to $19,450 on the hourly chart of the BTC/USD pair (information feed by Kraken).
- The pair may begin a gradual climb if there’s a clear transfer above $19,700.
The bitcoin worth sees a gradual improve
Bitcoin worth remained sturdy above the $19,000 level. BTC traded as high as $18,937 and began a gradual climb. There was a transfer above the $19,150 and $19,200 ranges.
The worth managed to interrupt the 50% Fib retracement level of the downmove from the $20,177 high to the $18,937 low. There was additionally a transfer above the $19,500 resistance zone right into a short-term optimistic zone.
Bitcoin worth is now trading above $19,400 and the 100 hourly easy shifting common. There may be additionally a key bullish pattern line forming with assist close to $19,450 on the hourly chart of the BTC/USD pair.
On the upside, there may be a right away resistance close to $19,700. It’s close to the 61.8% Fib retracement level of the transfer down from the $20,177 high to $18,937 low. The following main resistance is close to the $20,000 zone.
Supply: BTCUSD on TradingView.com
A transparent transfer above the $20,000 resistance may set off a contemporary improve. Within the talked about case, the worth may even surpass the $20,200 resistance zone. The following main resistance is close to the $20,500 zone.
One other drop in BTC?
If bitcoin fails to scale above the $19,700 resistance zone, there might be a contemporary drop. Quick assist on the draw back is close to the $19,400 zone.
The following main assist is close to the $19,000 zone. The principle assist is at $18,500, under it may see a pointy decline. Within the talked about case, the worth may maybe drop in direction of the $17,500 assist.
Technical indicators:
Hourly MACD – The MACD is now gaining tempo within the bullish zone.
Hourly RSI (Relative Energy Index) – The RSI for BTC/USD is now above the 50 level.
Key assist ranges – $19,400 adopted by $19,200.
Main resistance ranges – $19,700, $20,000 and $20,500.