Bitcoin price displayed strength over the last four days as it finally broke past the $19,000 price zone.<\/p>\n
Bitcoin price was consolidating over the past week before this rally. At the moment, the $18,000 price level is acting as strong support for the coin.<\/p>\n
Even though the Bitcoin price has stabilized, the $18,000-$19,000 price range remains critical.<\/p>\n
If the cryptocurrency fails to trade above its present level and falls near $18,000, its next trading zone will be at $15,000. Buyers seem to have returned to the market owing to the relief rally.<\/p>\n
Technical indicators have also painted a bullish picture for Bitcoin on the daily chart. Demand for Bitcoin has to remain constant in order for the coin to stay optimistic on its daily chart.<\/p>\n
The coin could go to $24,000. However, that price level may prove to be a strong barrier for Bitcoin.<\/p>\n
That could in turn push the price of Bitcoin to its closest support line. If Bitcoin manages to hold above $22,000, there are chances that it could trade close to $24,000.<\/p>\n
Bitcoin Price Analysis: One Day Chart BTC was trading at $22,100 at the time of writing. However, there has been a relief rally in recent days after a period of consolidation.<\/p>\n The immediate resistance for the coin stood at $24,000, but the aforementioned level could prove to be a strong resistance mark for Bitcoin.<\/p>\n Local support for the coin was at $19,000 and then at $18,000. If Bitcoin reaches $18,000, it is possible that it will aim for $15,000.<\/p>\n The volume of Bitcoin traded in the last session declined, which was a sign of increased selling pressure.<\/p>\n Technical Analysis BTC has been flashing signs of optimism over the last couple of days.<\/p>\n It is still to be seen how Bitcoin price fares above the $22,000 price mark.<\/p>\n The outlook for Bitcoin price has turned positive, with buying strength increasing over the past few trading sessions.<\/p>\n The Relative Strength Index was above the half-line, which indicated that buyers outnumbered sellers at the time of writing.<\/p>\n Bitcoin price travelled above the 20-SMA line, signalling that buyers were driving price momentum in the market.<\/p>\n Increased demand would push the 20-SMA line to crossover the 50-SMA line, thereby increasing the chance of bullishness.<\/p>\n Bitcoin could exhibit signs of price fluctuation as seen on the one day chart | Source: BTCUSD on TradingView<\/a><\/p>\n Other technical indicators of Bitcoin also seemed to side with the bulls at press time. The overall price direction of the coin was positive, as depicted by the technical indicators.<\/p>\n The Directional Movement Index was positive, with the +DI line above the -DI line. However, the Average Directional Index (red) sagged slightly.<\/p>\n This meant that price momentum could lose steam. Bollinger Bands indicate volatility, and the slight opening of the bands means that there could be a chance of a price fluctuation.<\/p>\n Featured image from Pexels, Chart from TradingView.com<\/a><\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Bitcoin price displayed strength over the last four days as it finally broke past the $19,000 price zone.<\/p>\n Bitcoin price was consolidating over the past week before this rally. At the moment, the $18,000 price level is acting as strong support for the coin.<\/p>\n Even though the Bitcoin price has stabilized, the $18,000-$19,000 price range remains critical.<\/p>\n If the cryptocurrency fails to trade above its present level and falls near $18,000, its next trading zone will be at $15,000. Buyers seem to have returned to the market owing to the relief rally.<\/p>\n Technical indicators have also painted a bullish picture for Bitcoin on the daily chart. Demand for Bitcoin has to remain constant in order for the coin to stay optimistic on its daily chart.<\/p>\n The coin could go to $24,000. However, that price level may prove to be a strong barrier for Bitcoin.<\/p>\n That could in turn push the price of Bitcoin to its closest support line. If Bitcoin manages to hold above $22,000, there are chances that it could trade close to $24,000.<\/p>\n Bitcoin Price Analysis: One Day Chart BTC was trading at $22,100 at the time of writing. However, there has been a relief rally in recent days after a period of consolidation.<\/p>\n The immediate resistance for the coin stood at $24,000, but the aforementioned level could prove to be a strong resistance mark for Bitcoin.<\/p>\n Local support for the coin was at $19,000 and then at $18,000. If Bitcoin reaches $18,000, it is possible that it will aim for $15,000.<\/p>\n The volume of Bitcoin traded in the last session declined, which was a sign of increased selling pressure.<\/p>\n Technical Analysis BTC has been flashing signs of optimism over the last couple of days.<\/p>\n It is still to be seen how Bitcoin price fares above the $22,000 price mark.<\/p>\n The outlook for Bitcoin price has turned positive, with buying strength increasing over the past few trading sessions.<\/p>\n The Relative Strength Index was above the half-line, which indicated that buyers outnumbered sellers at the time of writing.<\/p>\n Bitcoin price travelled above the 20-SMA line, signalling that buyers were driving price momentum in the market.<\/p>\n Increased demand would push the 20-SMA line to crossover the 50-SMA line, thereby increasing the chance of bullishness.<\/p>\n Bitcoin could exhibit signs of price fluctuation as seen on the one day chart | Source: BTCUSD on TradingView<\/a><\/p>\n Other technical indicators of Bitcoin also seemed to side with the bulls at press time. The overall price direction of the coin was positive, as depicted by the technical indicators.<\/p>\n The Directional Movement Index was positive, with the +DI line above the -DI line. However, the Average Directional Index (red) sagged slightly.<\/p>\n This meant that price momentum could lose steam. Bollinger Bands indicate volatility, and the slight opening of the bands means that there could be a chance of a price fluctuation.<\/p>\n
\nBitcoin was priced at $22,100 on the one-day chart | Source: BTCUSD on TradingView<\/a><\/p>\n
\nBitcoin noted increased buying strength on the one-day chart | Source: BTCUSD on TradingView<\/a><\/p>\n
\nBitcoin was priced at $22,100 on the one-day chart | Source: BTCUSD on TradingView<\/a><\/p>\n
\nBitcoin noted increased buying strength on the one-day chart | Source: BTCUSD on TradingView<\/a><\/p>\n