BTCUSD on TradingView.com<\/a><\/p>\nThe first major resistance sits near the $20,000 level. A clear move above the $20,000 resistance might pump the price in the near term. In the stated case, the price may perhaps test the $21,200 resistance. Any more gains might start a steady increase towards the $22,000 resistance zone.<\/p>\n
Dips Supported in BTC?<\/h2>\n If bitcoin fails to rise above the $20,000 resistance zone, it could start a downside correction. An immediate support on the downside is near the $19,200 zone and the 100 hourly simple moving average.<\/p>\n
The next major support is near the $19,000 zone. A downside break and close below the $19,000 support zone might increase selling pressure. In the stated case, the price could decline towards the $18,500 support zone. Any more losses might send the price towards the $18,250 level.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n
Major Support Levels \u2013 $19,200, followed by $19,000.<\/p>\n
Major Resistance Levels \u2013 $19,600, $20,000 and $21,200.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is slowly moving higher above $19,500 against the US Dollar. BTC could gain bullish momentum once it clears the $20,000 resistance zone. Bitcoin remained well bid and started a decent increase above $19,500. The price is trading above $19,400 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $19,240 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a strong increase if there is a close above the $20,000 resistance zone. Bitcoin Price Eyes More Upsides Bitcoin price formed a base above the $19,000 resistance zone. BTC remained stable and started a slow and steady increase above the $19,200 level. There was a break above a key bearish trend line with resistance near $19,240 on the hourly chart of the BTC\/USD pair. The pair was able to clear the 50% Fib retracement level of the downward move from the $19,939 swing high to $19,000 low. Bitcoin price is now trading above $19,400 and the 100 hourly simple moving average. On the upside, an immediate resistance is near the $19,600 level. It is close to the 61.8% Fib retracement level of the downward move from the $19,939 swing high to $19,000 low. Source: BTCUSD on TradingView.com The first major resistance sits near the $20,000 level. A clear move above the $20,000 resistance might pump the price in the near term. In the stated case, the price may perhaps test the $21,200 resistance. Any more gains might start a steady increase towards the $22,000 resistance zone. Dips Supported in BTC? If bitcoin fails to rise above the $20,000 resistance zone, it could start a downside correction. An immediate support on the downside is near the $19,200 zone and the 100 hourly simple moving average. The next major support is near the $19,000 zone. A downside break and close below the $19,000 support zone might increase selling pressure. In the stated case, the price could decline towards the $18,500 support zone. Any more losses might send the price towards the $18,250 level. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level. Major Support Levels \u2013 $19,200, followed by $19,000. Major Resistance Levels \u2013 $19,600, $20,000 and $21,200.<\/p>\n","protected":false},"author":67,"featured_media":464001,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1144,78790,76835],"class_list":["post-506750","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n
Bitcoin Price Is Rising, Here\u2019s What Could Trigger A Sharp Increase<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n