Bitcoin price is slowly moving higher above $19,500 against the US Dollar. BTC could gain bullish momentum once it clears the $20,000 resistance zone. Bitcoin remained well bid and started a decent increase above $19,500. The price is trading above $19,400 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $19,240 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a strong increase if there is a close above the $20,000 resistance zone. Bitcoin Price Eyes More Upsides Bitcoin price formed a base above the $19,000 resistance zone. BTC remained stable and started a slow and steady increase above the $19,200 level. There was a break above a key bearish trend line with resistance near $19,240 on the hourly chart of the BTC/USD pair. The pair was able to clear the 50% Fib retracement level of the downward move from the $19,939 swing high to $19,000 low. Bitcoin price is now trading above $19,400 and the 100 hourly simple moving average. On the upside, an immediate resistance is near the $19,600 level. It is close to the 61.8% Fib retracement level of the downward move from the $19,939 swing high to $19,000 low. Source: BTCUSD on TradingView.com The first major resistance sits near the $20,000 level. A clear move above the $20,000 resistance might pump the price in the near term. In the stated case, the price may perhaps test the $21,200 r...
