Bitcoin price is moving higher above $19,250 against the US Dollar. BTC could eye a crucial upside break above the $19,500 and $19,650 resistance levels. Bitcoin started a fresh increase above the $19,200 and $19,250 levels. The price is trading above $19,200 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $19,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a strong increase if there is a clear move above the $19,650 resistance. Bitcoin Price Gains Momentum Bitcoin price remained well bid above the $18,800 level. BTC formed a base above the $19,000 level and started a fresh increase. There was a clear move above the $19,200 and $19,250 resistance levels. There was also a break above a key bearish trend line with resistance near $19,200 on the hourly chart of the BTC/USD pair. The pair gained pace above the $19,400 level and the 100 hourly simple moving average. It even broke the $19,500 resistance. However, bitcoin price failed to gain momentum above the $19,600 zone. A high was formed near $19,679 and there was a minor downside correction. The price is now trading below the 23.6% Fib retracement level of the upward move from the $18,865 swing low to $19,679 high. On the upside, an immediate resistance is near the $19,600 level. The first major resistance sits near the $19,650 level and the recent high. Source: BTCUSD on T...
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