Bitcoin is gaining pace above the $19,500 resistance against the US Dollar. BTC could rise further above $20,000 if it stays above the $19,000 support. Bitcoin started a decent increase and was able to clear the $19,500 resistance zone. The price is trading above $19,000 and the 100 hourly simple moving average. There was a break above a connecting bearish trend line with resistance near $19,220 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could stage a strong increase if it clears the $20,000 resistance zone. Bitcoin Price Breaks Hurdle Bitcoin price remained well bid above the $19,000 support zone. The crypto market was able to recover and BTC climbed higher above the $19,200 resistance zone. There was a clear move above a connecting bearish trend line with resistance near $19,220 on the hourly chart of the BTC/USD pair. The pair even surpassed a major resistance zone near the $19,500 level to move into a positive zone. Bitcoin price is now trading above $19,000 and the 100 hourly simple moving average. It traded as high as $19,863 and is currently consolidating gains. It is trading well above the 23.6% Fib retracement level of the recent increase from the $18,645 swing low to $19,863 high. On the upside, an immediate resistance is near the $19,850 level. The next major resistance sits near the $20,000 zone. Source: BTCUSD on TradingView.com A close above the $20,000 level might push the price fu...
Why Bitcoin Price is Up Today?
