Bitcoin price is holding gains above the $19,000 level against the US Dollar. BTC could rally if there is a clear move above the $19,660 resistance zone.
- Bitcoin remained stable and consolidated above the $19,000 support zone.
- The price is trading above $19,100 and the 100 hourly simple moving average.
- There is a key bullish trend line forming with support near $19,220 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could start a fresh surge if there is a clear move above the $19,660 resistance zone.
Bitcoin Price Consolidates
Bitcoin price started a recovery wave from the $18,500 support zone. BTC bulls remained active above the $18,500 level and managed to push the price above the $19,000 resistance zone.
There was a clear move above the 50% Fib retracement level of the key decline from the $20,382 swing high to $18,486 low. The price even climbed above the $19,500 resistance zone, but the bears were active near the $19,650 and $19,660 levels.Bitcoin price is now consolidating above $19,100 and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $19,220 on the hourly chart of the BTC/USD pair.
On the upside, an immediate resistance is near the $19,500 level. The next major resistance sits near the $19,660 zone. It is close to the 61.8% Fib retracement level of the key decline from the $20,382 swing high to $18,486 low.