Bitcoin price extended its increase and surged above $18,000. BTC is gaining pace and might rise towards the $19,000 resistance zone.
- Bitcoin extended its rise above the $17,500 and $18,000 resistance levels.
- The price is trading above $18,000 and the 100 hourly simple moving average.
- There is a key bullish trend line forming with support near $17,400 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could continue to move up towards the $19,000 resistance zone.
Bitcoin Price Rallies 5%
Bitcoin price gained pace after there was a close above the $17,000 pivot zone. BTC accelerated higher above the $17,250 resistance zone to move into a positive zone, similar to ethereum.
The price climbed above the $17,500 resistance zone to start a strong increase. The bulls even pumped the price above the $18,000 resistance zone. A high was formed near $18,367 and the price is now consolidating gains.Bitcoin price is trading above $18,000 and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $17,400 on the hourly chart of the BTC/USD pair. It is also well above the 23.6% Fib retracement level of the recent surge from the $17,308 swing low to $18,367 high.
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