Bitcoin Price Stuck In Key Range, Why The Bulls Are Comfortable

Bitcoin prices fell below $19,500 against the US Dollar. BTC is trading in the key range above $19,000 and still within its support zone.

  • Bitcoin lost strength over $19,600 but corrected its gains.
  • It is currently trading at $19,250. The 100-hourly simple moving average also shows the same price.
  • The hourly BTC/USD chart showed a breaking below the key bullish trendline with support at $19,400 (data feed Kraken).
  • If there’s a clear move under $19,000 support, the pair may attempt to increase.

Bitcoin Price Remains Supported

Bitcoin’s price attempted to climb above the $19,000.500 resistance zone. BTC reached $19,000. However, there wasn’t any follow-through move.

After reaching a peak of $19,696, the price began a downward correction. A move below $19,500 or $19,400 was observed. A break was also seen below the key bullish trendline with support at $19,400.

Bitcoin prices traded at $19,110 as low and are currently in range. The 100-hourly simple moving average and $19,250 are the closest prices. The Fib retracement level at 23.6% of the decline from $19.696 swing high, to $19.110 low, was broken above.

Surprisingly, a resistance level is close to $19,400. The Fib level at 50% is the retracement level for the recent fall from $19.696 swing high, to $19.110 low.

Bitcoin Price

Source: BTCUSD from

At $19,680 the level of resistance is at its first major peak. An increase in the price could be initiated by a clear break above $19,680. If the previous scenario is true, then the price might test the $20,000 resistance. The $21,200 resistance might be reached if there are more gains.

What is the Downside to Bitcoin?

Bitcoin could fall if it fails to climb above $19,400 resistance. Support for the downside lies near the $19,000.

Next major support will be near the $19,000 area. A major drop could be initiated by a downside breakout and close to the $19,000 support area. The price may fall towards $18,500 in this scenario.

Indicators technical

Hourly MACD – The MACD is now losing pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $19,100, followed by $19,000.

Major Resistance Levels – $19,400, $19,680 and $20,000.

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