Bitcoin price extended its increase and traded towards $17,500. BTC is consolidating gains and might aim a move towards the $18,000 resistance.
- Bitcoin verlängert säin Opstieg iwwer dem $ 17,200 an $ 17,250 Resistenzniveau.
- De Präis handelt iwwer $ 17,200 an den 100 Stonne einfache bewegende Moyenne.
- Et gëtt eng grouss bullish Trendlinn mat Forming bei der Géigend vun $ 17,350 op der Stonnekaart vum BTC / USD Pair (Datafeed vu Kraken).
- D'Paar konnt weider an d'$18,000 Resistenzzone eropgoen.
Bitcoin Präis gewënnt Momentum
Bitcoin price settled above the key $17,000 pivot zone, opening the doors for more gains. BTC climbed further higher and was able to clear the $17,250 resistance zone.
The price even broke the $17,400 resistance zone and tested the next barrier at $17,500. A high is formed near the $17,500 level the price is now consolidating gains. It is now testing the 23.6% Fib retracement level of the erop réckelen vum $ 17,136 Schwong niddereg bis $ 17,500 héich.
Bitcoin price is also trading above $17,200 and the 100 hourly simple moving average. Besides, there is a major bullish trend line forming with support near $17,350 on the hourly chart of the BTC/USD pair.
Source: BTCUSD op TradingView.com
On the upside, an immediate resistance is near the $17,500 level. The next major resistance is near the $18,000 zone, above which the price might accelerate higher. In the stated case, the price may perhaps rise towards the $18,500 level. Any more gains might send btc price towards the $19,200 level.
Dips Limited am BTC?
If bitcoin price fails to clear the $17,500 resistance, it could start a downside correction. An immediate support on the downside is near the $17,350 level and the trend line.
The next major support is near the $17,270 level. It is near the 61.8% Fib retracement level of the upward move from the $17,136 swing low to $17,500 high. The main support is now forming near the $17,130 level, below which the price might retest $16,800.
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 - $ 17,350, gefollegt vun $ 17,130.
Major Resistenzniveauen - $ 17,500, $ 17,800 an $ 18,000.
Quell: https://newsbtc.com/analysis/btc/bitcoin-price-resumes-increase-17k/