Bitcoin Price Spikes To $19K, Why BTC Could Correct Lower In Short Term

2023-1-13 05:58

Bitcoin price climbed further higher above $18,500. BTC tested the $19,000 resistance zone and is currently consolidating gains.

Bitcoin climbed further higher above the $18,000 and $18,500 resistance levels. The price is trading above $18,200 and the 100 hourly simple moving average. There is a connecting bullish trend line forming with support near $18,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could correct lower towards the $18,500 and $18,350 support levels. Bitcoin Price Tests $19K

Bitcoin price remained well bid above the $18,000 zone. BTC formed another bullish breakout and was able to surge above the $18,500 resistance zone, unlike ethereum.

The price cleared the $18,800 resistance zone and even spiked above the $19,000 level. A high is formed near $19,098 and the price is now consolidating gains. There was a minor decline below the $18,900 level. The price declined below the 23.6% Fib retracement level of the upward move from the $17,927 swing low to $19,098 high.

Bitcoin price is trading above $18,200 and the 100 hourly simple moving average. There is also a connecting bullish trend line forming with support near $18,600 on the hourly chart of the BTC/USD pair.

Source: BTCUSD on TradingView.com

On the upside, an immediate resistance is near the $19,000 level. The next major resistance is near the $19,200 zone, above which the price might start another steady increase. In the stated case, the price may perhaps rise towards the $19,500 level. Any more gains might send btc price towards the $20,000 level.

Downside Correction in BTC?

If bitcoin price fails to clear the $19,000 resistance, it could start a downside correction. An immediate support on the downside is near the $18,650 level.

The next major support is near the $18,500 level and the trend line. It is near the 50% Fib retracement level of the upward move from the $17,927 swing low to $19,098 high. The main support is now forming near the $17,800 level, below which the price might retest $17,000.

Technical indicators:

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

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

Major Support Levels – $18,650, followed by $18,500.

Major Resistance Levels – $19,000, $19,200 and $20,000.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 67337.24 (-0.26%)
Объем 24H $42.543b
Изменеия 24h: -2.78 %, 7d: 3.07 %
Cегодня L: $67337.24 - H: $67957.3
Капитализация $1330.346b Rank 1
Цена в час новости $ 18931.32 (255.69%)

bitcoin further above 500 resistance climbed higher

Источник: newsbtc.com

bitcoin further → Результатов: 126


Фото:

Bitcoin Holds Above Critical Support Level as Bulls Target $14,000

Bitcoin has seen some further upside today despite the intense selloff seen in the stock market This confirms the narrative regarding it now being fully decoupled from traditional assets It has also been able to set new yearly highs this morning when it rallied towards $13,500 If it continues holding above its near-term resistance-turned-support at $13,200, the crypto could soon gain further momentum that leads it up towards $14,000 This is an intense resistance level […]

2020-10-27 21:00


Фото:

Bitcoin on Brink of Serious Downside as Risk of Losing Support Grows

Bitcoin is at risk of seeing further downside as it tests a key descending trendline Some top traders are warning of BTC posting major losses in the coming days and weeks In the time following the tempered signs of weakness Bitcoin showed yesterday when it dipped below its key support at $7,200, the benchmark cryptocurrency has further extended this downtrend as bulls now defending against a dip below $7,000. This weakness has led BTC down […]

2020-4-21 21:00


Фото:

Bitcoin Price Recovers Above $3.7K as Novogratz Predicts No Further Losses

Cryptocurrency merchant bank Galaxy Digital CEO Mike Novogratz repeated his faith in the Bitcoin price December 18, forecasting no further big losses. Novogratz: ‘This Isn’t Tulips’ In an interview with Bloomberg, the investment mogul said he was “fairly convinced” a “digital store of value” would emerge for the world, and that it would be Bitcoin.

2018-12-19 13:00


Фото:

U.S. SEC Delays Decision on VanEck's Bitcoin ETF Until February 2019

The U. S. Securities and Exchange Commission (SEC) has postponed its decision to approve or disapprove the VanEck/SolidX bitcoin exchange-traded fund (ETF). Per an official document published by the agency, the new deadline to review the VanEck proposal has been shifted to February 27, 2019, which the regulator claims would afford it the time needed to review the potential rule change further.

2018-12-7 19:56


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru