Bitcoin Price Key Trend is Forming And BTC Could Soon Surge to $18K


Bitcoin worth gained tempo for a recent transfer above $17,000. BTC is rising and would possibly climb larger in direction of the $18,000 resistance zone.

  • Bitcoin began a recent improve above $17,000 and $17,200 resistance ranges.
  • The worth is buying and selling above $16,800 and the 100 hourly easy transferring common.
  • There was a break above a serious bearish pattern line with resistance close to $17,000 on the hourly chart of the BTC/USD pair (information feed from Kraken).
  • The pair appears to be eyeing a transfer in direction of the $17,650 resistance and even $18,000.

Bitcoin Value Restarts Enhance

Bitcoin worth discovered help close to the $16,800 zone after a downside correction. BTC remained effectively bid and began a recent improve above the $17,000 resistance zone.

It even broke the $17,150 stage and settled above the 100 hourly easy transferring common. The worth gained tempo above the 76.4% Fib retracement stage of the downward transfer from the $17,315 swing excessive to $16,784 swing low. Apart from, there was a break above a serious bearish pattern line with resistance close to $17,000 on the hourly chart of the BTC/USD pair.

Bitcoin worth is now buying and selling above $16,800 and the 100 hourly simple moving average. It’s buying and selling close to the $17,250 stage. On the upside, an instantaneous resistance is close to the $17,350 stage.

The primary main resistance is close to the $17,450 zone, above which the value could maybe begin one other regular improve. Within the acknowledged case, the value might rise in direction of the $17,650 resistance. It’s close to the 1.618 Fib extension stage of the downward transfer from the $17,315 swing excessive to $16,784 swing low.

Bitcoin Price

Supply: BTCUSD on TradingView.com

The subsequent main resistance is close to $18,000, above which the value might try a transfer in direction of the $18,500 zone within the close to time period.

Dips Restricted in BTC?

If bitcoin fails to start out a recent improve above the $17,350 resistance, there could possibly be extra downsides. A direct help on the draw back is close to the $17,150 stage.

The subsequent main help is close to the $17,000 zone and the 100 hourly easy transferring common. A draw back break under the $17,000 help would possibly name for a transfer in direction of $16,750. Any extra losses would possibly name for a check of the important thing $16,500 help zone within the close to time period.

Technical indicators:

Hourly MACD – The MACD is now gaining tempo within the bullish zone.

Hourly RSI (Relative Power Index) – The RSI for BTC/USD is now within the overbought zone.

Main Assist Ranges – $17,150, adopted by $17,000.

Main Resistance Ranges – $17,350, $17,450 and $18,000.



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