How Bitcoin Price Could Setup A Strong Surge Above $19.5K

Bitcoin price started a steady recovery from the $18,580 swing low against the US Dollar. BTC is currently attempting an upside break and it could rally above $19,500. Bitcoin is rising steadily above the $18,800 and $19,000 resistance levels. The price is now trading nicely above the $19,000 resistance and the 100 simple moving average […]

How Bitcoin Price Could Setup A Strong Surge Above $19.5K

Bitcoin cost began a consistent recuperation from the $18,580 swing low against the US Dollar. BTC is presently endeavoring a potential gain break and it could mobilize above $19,500. Bitcoin is transcending the $18,800 and $19,000 opposition levels. The cost is presently exchanging pleasantly over the $19,000 opposition and the 100 straightforward moving normal (4-hours). There is a key contracting triangle framing with obstruction close $19,200 on the 4-hours graph of the BTC/USD pair (information feed from Kraken). The pair could begin a solid flood if there is a nearby above $19,200 and $19,300. Bitcoin Price is Attempting Upside Break This previous week, bitcoin saw two or three swing moves from the $19,500 obstruction against the US Dollar. The BTC/USD pair even broke the $19,000 uphold, however it stayed all around offer over the 100 basic moving normal (4-hours). The ongoing swing low was framed close $18,581 before the cost began a respectable upward move. There was a break over the $18,800 opposition level. The cost even moved over the half Fib retracement level of the descending move from the $19,575 swing high to $18,581 swing low. Bitcoin cost is presently exchanging pleasantly over the $19,000 opposition and the 100 basic moving normal (4-hours). It is confronting a solid opposition close the $19,200 level. There is additionally a key contracting triangle framing with obstruction close $19,200 on the 4-hours diagram of the BTC/USD pair. The triangle obstruction is near the 61.8% Fib retracement level of the descending move from the $19,575 swing high to $18,581 swing low. An effective break and close over the triangle obstruction could begin a solid flood over the $19,300 and $19,400 levels. The following key opposition is close $19,500, above which the bulls may point $20,000. Another Drop in BTC? In the event that bitcoin neglects to clear the $19,200 and $19,300 opposition levels, it could begin a new decay. An underlying help is close the $19,000 level. The principal key help is close to the triangle lower pattern line at $18,800. The following significant help is close the $18,500 level and the 100 straightforward moving normal (4-hours), underneath which there could be a sharp decay. Specialized markers 4 hours MACD – The MACD for BTC/USD is gradually picking up energy in the bullish zone. 4 hours RSI (Relative Strength Index) – The RSI for BTC/USD is transcending the 50 level. Significant Support Level – $18,800 Major Resistance Level – $19,200