BTC / USD
23,021.15
0.63%
(-145.46)
ETH / USD
1,576.79
1.31%
(-20.85)
XRP / USD
0.40
1.71%
(-0.01)
LTC / USD
95.61
1.19%
(+1.12)
EOS / USD
1.03
3.56%
(-0.04)
BCH / USD
131.55
2.45%
(-3.31)
ADA / USD
0.38
4.01%
(-0.02)
XLM / USD
0.09
2.84%
(-0)
NEO / USD
8.00
2.61%
(-0.21)
XEM / USD
0.04
0.03%
(0)
DASH / USD
59.87
0.33%
(-0.2)
USDT / USD
1.00
0%
(0)
BNB / USD
309.12
1.49%
(-4.66)
QTUM / USD
2.59
4.81%
(-0.13)
XVG / USD
0.00
1%
(-0)
ONT / USD
0.20
2.83%
(-0.01)
ZEC / USD
44.90
1.82%
(-0.83)
STEEM / USD
0.19
1.04%
(-0)

Bitcoin Price Gearing For Another Lift-Off to $20k, Altcoins Stable

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Bitcoin is showing a few positive signs above $19,000 against the US Dollar. BTC could gain bullish momentum if it clears the $19,400 resistance zone.

  • Bitcoin started an upside correction and climbed above $19,000.
  • The price is now testing the $19,400 zone and the 100 hourly simple moving average.
  • There was a break above a key bearish trend line with resistance near $19,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair might start a decent increase if there is a clear move above the $19,500 resistance.

Bitcoin Price Attempts Upside Break

Bitcoin price found support near the $18,550 zone and recently started an upside correction. There was a steady recovery wave above the $19,000 resistance zone.

There was a break above a key bearish trend line with resistance near $19,200 on the hourly chart of the BTC/USD pair. The bulls were able to push the price above the 23.6% Fib retracement level of the downward move from the $20,172 swing high to $18,550 low.

Bitcoin price is now testing the $19,400 zone and the 100 hourly simple moving average. The price is also trading near the 50% Fib retracement level of the downward move from the $20,172 swing high to $18,550 low.

Source: BTCUSD on TradingView.com

On the upside, an immediate resistance is near the $19,400 level and the 100 hourly simple moving average. The next major resistance sits near the $19,500 level. A proper close above the $19,500 resistance might start a steady increase to $20,000. Any more gains might send the price towards the $20,500 resistance zone.

Fresh Decline in BTC?

If bitcoin fails to gain pace above the $19,500 zone, it could start another decline. An immediate support on the downside is near the $19,200 zone.

The first major support is now forming near the $19,070 level. A downside break below the $19,070 level might send the price towards the $18,550 support. Any more losses below $18,550 might put a lot of pressure on the bulls. In the stated case, the price could drop towards the $18,000 support in the near term.

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 – $19,070, followed by $18,550.

Major Resistance Levels – $19,400, $19,500 and $20,000.

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