Bitcoin price remained well bid above the $16,920 support. BTC climbed higher and might soon aim an upside break above the $17,500 resistance zone.
- Bitcoin found a strong buying interest near the $16,920 and $16,900 levels.
- De Präis handelt iwwer $ 17,000 an den 100 Stonne einfache bewegende Moyenne.
- Et gëtt e wesentleche Kontraktéierend Dräieck formt mat Resistenz no bei 17,220 $ op der Stonnekaart vum BTC / USD Pair (Datafeed vu Kraken).
- D'Paar kéint bullish Momentum gewannen wann et d'$17,250 an $17,450 Resistenzniveauen läscht.
Bitcoin Präis Eyes Upside Break
Bitcoin price corrected lower from the $17,292 swing high. BTC declined below the $17,000 level and the 100 hourly simple moving average.
However, the bulls were active near the $16,920 and $16,900 levels. A low was formed near $16,880 and the price started a fresh increase. There was a clear move above the $17,000 resistance zone and the 100 Stonn einfach bewegt Duerchschnëtt.
Bitcoin price is now consolidating gains near the $17,150 level. There was a minor decline below the 23.6% Fib retracement level of the recent increase from the $16,880 low to $17,247 high.
On the upside, an immediate resistance is near the $17,150 level. There is also a major contracting triangle forming with resistance near $17,220 on the hourly chart of the BTC/USD pair. The first major resistance is near the $17,300 zone, above which the price may perhaps revisit the $17,450 zone.
Source: BTCUSD op TradingView.com
The next major resistance is near $17,500, above which the price start a steady increase and rise towards the $18,000 zone in the near term.
Dips Limited am BTC?
If bitcoin fails to clear the $17,150 resistance, there could be a fresh decline. An immediate support on the downside is near the $17,120 level and the 100 hourly simple moving average.
The next major support is near the $17,000 zone. It is near the 50% Fib retracement level of the recent increase from the $16,880 low to $17,247 high. A downside break below the $17,000 support might call a drop towards $16,880. Any more losses might push the price towards the $16,500 zone in the near term.
Technesch Indikatiounen:
All Stonn MACD - De MACD verléiert elo Tempo an der bullish Zone.
All Stonn RSI (Relative Strength Index) - De RSI fir BTC / USD ass elo iwwer dem 50 Niveau.
Major Support Levels - $ 17,000, gefollegt vun $ 16,880.
Major Resistenzniveauen - $ 17,150, $ 17,300 an $ 17,450.
Source: https://newsbtc.com/analysis/btc/bitcoin-price-ready-17-5k/