Bitcoin Price Spikes To $19K, Why BTC Could Correct Lower In Short Term

Jan 13, 2023 04:00 am Cryptocurrency 129

Bitcoin price climbed further higher above $18,500. BTC tested the $19,000 resistance zone and is currently consolidating gains.

Bitcoin climbed further higher above the $18,000 and $18,500 resistance levels.

The price is trading above $18,200 and the 100 hourly simple moving average.

There is a connecting bullish trend line forming with support near $18,600 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair could correct lower towards the $18,500 and $18,350 support levels.

Bitcoin Price Tests $19K

Bitcoin price remained well bid above the $18,000 zone. BTC formed another bullish breakout and was able to surge above the $18,500 resistance zone, unlike ethereum.

The price cleared the $18,800 resistance zone and even spiked above the $19,000 level. A high is formed near $19,098 and the price is now consolidating gains. There was a minor decline below the $18,900 level. The price ..

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