Bitcoin Price

How Bitcoin Value May Setup A Sturdy Surge Above $19.5K


Bitcoin value began a gradual restoration from the $18,580 swing low in opposition to the US Greenback. BTC is at present trying an upside break and it may rally above $19,500.

  • Bitcoin is rising steadily above the $18,800 and $19,000 resistance ranges.
  • The worth is now buying and selling properly above the $19,000 resistance and the 100 easy transferring common (4-hours).
  • There’s a key contracting triangle forming with resistance close to $19,200 on the 4-hours chart of the BTC/USD pair (information feed from Kraken).
  • The pair may begin a robust surge if there’s a shut above $19,200 and $19,300.

Bitcoin Value is Making an attempt Upside Break

This previous week, bitcoin noticed a few swing strikes from the $19,500 resistance in opposition to the US Greenback. The BTC/USD pair even broke the $19,000 help, however it remained properly bid above the 100 easy transferring common (4-hours).

The current swing low was fashioned close to $18,581 earlier than the worth began an honest upward transfer. There was a break above the $18,800 resistance stage. The worth even moved above the 50% Fib retracement stage of the downward transfer from the $19,575 swing excessive to $18,581 swing low.

Bitcoin value is now buying and selling properly above the $19,000 resistance and the 100 easy transferring common (4-hours). It’s dealing with a robust resistance close to the $19,200 stage. There may be additionally a key contracting triangle forming with resistance close to $19,200 on the 4-hours chart of the BTC/USD pair.

The triangle resistance is near the 61.8% Fib retracement stage of the downward transfer from the $19,575 swing excessive to $18,581 swing low.

A profitable break and shut above the triangle resistance may begin a robust surge above the $19,300 and $19,400 ranges. The subsequent key resistance is close to $19,500, above which the bulls may purpose $20,000.

One other Drop in BTC?

If bitcoin fails to clear the $19,200 and $19,300 resistance ranges, it may begin a contemporary decline. An preliminary help is close to the $19,000 stage.

The primary key help is close to the triangle decrease pattern line at $18,800. The subsequent main help is close to the $18,500 stage and the 100 easy transferring common (4-hours), under which there might be a pointy decline.

Technical indicators

Four hours MACD – The MACD for BTC/USD is slowly gaining momentum within the bullish zone.

Four hours RSI (Relative Energy Index) – The RSI for BTC/USD is rising and it’s above the 50 stage.

Main Assist Stage – $18,800

Main Resistance Stage – $19,200



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