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

Bitcoin has shown some positive signals above $19,000 relative to the US Dollar. BTC can gain positive momentum by clearing the $19,000.400 resistance.

  • Bitcoin began an upward correction, and it climbed to $19,000
  • The current price test is in the $19,400 area and 100-hourly simple moving average.
  • The hourly BTC/USD chart showed a breakout above the key bearish trendline with resistance at $19,200 (data feed Kraken).
  • If the pair moves above $19,500 resistance, it could start an increase.

Bitcoin Price Trys to Go Upside-Off

Bitcoin prices found support in the $18,550 area and have been on an uptrend since then. The $19,000 resistance level was seen as a constant recovery zone.

The hourly BTC/USD currency pair chart showed a break above a crucial bearish trend line. Resistance was near $19,000. The price was able to rise above 23.6% Fib resistance level, which is the lowest point of the downtrend from the $18,550 high and $20,172 swing high.

Bitcoin prices are currently testing the $19400 area and 100 hourly simple moving Average. Also, the price trades near the 50% Fib Retracement level for the downmove from the $18,550 high to the $20,172 swing low.

Bitcoin Price

Source: BTCUSD at

The $19,400 and 100 hourly simple moving average levels are the immediate barriers. Near the $19,500 resistance is the next significant resistance. If the price closes above $19,500 it could trigger a gradual increase in value to $20,000. If the gains continue, the price might reach the $20,000.500 resistance.

BTC – A New Decline

It could experience a further decline if bitcoin does not gain momentum above the $19,000.500 mark. Support for the downside lies near the $19 200 zone.

Near the $19,070 support level is currently the first significant support. The $18,550 support might be reached if the price breaks below the $19,000. The bulls could be under pressure if they lose more than $18,550. If this is the case, then the price might drop below $18,000 to the support.

Indicators technical

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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