TA: Bitcoin Price Holds Ground, Why Close above $20K Is The Key

TA: Bitcoin Price Holds Ground, Why Close above $20K Is The Key

Bitcoin is holding the key $18,500 support zone against the US Dollar. BTC must settle above the $20,000 resistance zone to move into a positive zone.


  • Bitcoin is struggling to gain momentum above the $19,500 resistance zone.

  • The price is trading below $19,000 and the 100 hourly simple moving average.

  • There is a key bearish trend line forming with resistance near $19,020 on the hourly chart of the BTC/USD pair (data feed from Kraken).

  • The pair could stage a fresh rally if there is a clear move above the $19,500 resistance zone.


  • Bitcoin Price Consolidates

    Bitcoin price made another attempt to clear the $19,500 resistance zone. However, BTC struggled and formed a short-term top near the $19,400 level.


    A high was formed near $19,392 and the price declined. There was a move below the $19,000 level and the 100 hourly simple moving average. The pair traded as low as $18,645 and is currently consolidating losses. There was a minor ..

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