Bitcoin Price Surges Past $18K and Now The Bulls Could Aim $19K

Bitcoin value prolonged its improve and surged above $18,000. BTC is gaining tempo and would possibly rise in the direction of the $19,000 resistance zone.

• Bitcoin prolonged its rise above the $17,500 and $18,000 resistance ranges.
• The value is buying and selling above $18,000 and the 100 hourly easy shifting common.
• There’s a key bullish development line forming with assist close to $17,400 on the hourly chart of the BTC/USD pair (information feed from Kraken).
• The pair might proceed to maneuver up in the direction of the $19,000 resistance zone.

Bitcoin Value Rallies 5%

Bitcoin value gained tempo after there was a detailed above the $17,000 pivot zone. BTC accelerated larger above the $17,250 resistance zone to maneuver right into a constructive zone, much like ethereum.

The value climbed above the $17,500 resistance zone to begin a robust improve. The bulls even pumped the worth above the $18,000 resistance zone. A excessive was fashioned close to $18,367 and the worth is now consolidating beneficial properties.

Bitcoin value is buying and selling above $18,000 and the 100 hourly easy shifting common. There may be additionally a key bullish development line forming with assist close to $17,400 on the hourly chart of the BTC/USD pair. Additionally it is nicely above the 23.6% Fib retracement degree of the current surge from the $17,308 swing low to $18,367 excessive.

Supply: BTCUSD on TradingView.com

On the upside, a right away resistance is close to the $18,350 degree. The following main resistance is close to the $18,500 zone, above which the worth would possibly proceed to maneuver up. Within the acknowledged case, the worth could maybe rise in the direction of the $19,200 degree. Any extra beneficial properties would possibly ship btc value in the direction of the $20,000 degree.

Dips Enticing in BTC?

If bitcoin value fails to clear the $18,350 resistance, it might begin a draw back correction. A right away assist on the draw back is close to the $18,120 degree.

The following main assist is close to the $17,800 degree. It’s close to the 50% Fib retracement degree of the current surge from the $17,308 swing low to $18,367 excessive. The principle assist is now forming close to the $17,400 degree and the development line, beneath which the worth would possibly retest $17,000.

Technical indicators:

Hourly MACD – The MACD is now gaining tempo within the bullish zone.

Hourly RSI (Relative Power Index) – The RSI for BTC/USD is now above the 50 degree.

Main Assist Ranges – $18,120, adopted by $17,800.

Main Resistance Ranges – $18,350, $18,500 and $19,200.