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Tuesday, January 31, 2023
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    HomeMarketBitcoin Price Surges Past $18K and Now The Bulls Could Aim $19K

    Bitcoin Price Surges Past $18K and Now The Bulls Could Aim $19K

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    Bitcoin value prolonged its enhance and surged above $18,000. BTC is gaining tempo and would possibly rise in the direction of the $19,000 resistance zone.

    • Bitcoin prolonged its rise above the $17,500 and $18,000 resistance ranges.
    • The worth is buying and selling above $18,000 and the 100 hourly easy shifting common.
    • There’s a key bullish pattern line forming with assist close to $17,400 on the hourly chart of the BTC/USD pair (information feed from Kraken).
    • The pair might proceed to maneuver up in the direction of the $19,000 resistance zone.

    Bitcoin Worth Rallies 5%

    Bitcoin value gained tempo after there was a detailed above the $17,000 pivot zone. BTC accelerated increased above the $17,250 resistance zone to maneuver right into a optimistic zone, much like ethereum.

    The worth climbed above the $17,500 resistance zone to begin a robust enhance. The bulls even pumped the worth above the $18,000 resistance zone. A excessive was shaped close to $18,367 and the worth is now consolidating good points.

    Bitcoin value is buying and selling above $18,000 and the 100 hourly simple moving average. There may be additionally a key bullish pattern line forming with assist close to $17,400 on the hourly chart of the BTC/USD pair. It is usually effectively above the 23.6% Fib retracement degree of the latest surge from the $17,308 swing low to $18,367 excessive.

    Bitcoin Price Rallies 5%

    Supply: BTCUSD on TradingView.com

    On the upside, a direct resistance is close to the $18,350 degree. The following main resistance is close to the $18,500 zone, above which the worth would possibly proceed to maneuver up. Within the said case, the worth could maybe rise in the direction of the $19,200 degree. Any extra good points would possibly ship btc value in the direction of the $20,000 degree.

    Dips Enticing in BTC?

    If bitcoin value fails to clear the $18,350 resistance, it might begin a draw back correction. A direct assist on the draw back is close to the $18,120 degree.

    The following main assist is close to the $17,800 degree. It’s close to the 50% Fib retracement degree of the latest surge from the $17,308 swing low to $18,367 excessive. The principle assist is now forming close to the $17,400 degree and the pattern line, beneath which the worth would possibly retest $17,000.

    Technical indicators:

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

    Hourly RSI (Relative Energy Index) – The RSI for BTC/USD is now above the 50 degree.

    Main Help Ranges – $18,120, adopted by $17,800.

    Main Resistance Ranges – $18,350, $18,500 and $19,200.



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