Bitcoin rate got speed for a fresh relocation above $17,000. BTC is increasing and may climb up greater towards the $18,000 resistance zone.
- Bitcoin began a fresh boost above $17,000 and $17,200 resistance levels.
- The rate is trading above $16,800 and the 100 per hour easy moving average.
- There was a break above a significant bearish pattern line with resistance near $17,000 on the per hour chart of the BTC/USD set (information feed from Kraken).
- The set appears to be considering a relocation towards the $17,650 resistance and even $18,000.
Bitcoin Cost Restarts Boost
Bitcoin rate discovered assistance near the $16,800 zone after a drawback correction. BTC stayed well quote and began a fresh boost above the $17,000 resistance zone.
It even broke the $17,150 level and settled above the 100 per hour easy moving average. The rate got speed above the 76.4% Fib retracement level of the down relocation from the $17,315 swing high to $16,784 swing low. Besides, there was a break above a significant bearish pattern line with resistance near $17,000 on the per hour chart of the BTC/USD set.
Bitcoin rate is now trading above $16,800 and the 100 per hour easy moving average. It is trading near the $17,250 level. On the benefit, an instant resistance is near the $17,350 level.
The very first significant resistance is near the $17,450 zone, above which the rate might maybe begin another stable boost. In the specified case, the rate might increase towards the $17,650 resistance. It is near the 1.618 Fib extension level of the down relocation from the $17,315 swing high to $16,784 swing low.
Source: BTCUSD on TradingView.com
The next significant resistance is near $18,000, above which the rate might try a relocation towards the $18,500 zone in the near term.
Dips Minimal in BTC?
If bitcoin stops working to begin a fresh boost above the $17,350 resistance, there might be more drawbacks. An instant assistance on the disadvantage is near the $17,150 level.
The next significant assistance is near the $17,000 zone and the 100 per hour easy moving average. A drawback break listed below the $17,000 assistance may require a relocation towards $16,750. Anymore losses may require a test of the essential $16,500 assistance zone in the near term.
Per Hour MACD– The MACD is now getting speed in the bullish zone.
Per Hour RSI (Relative Strength Index)– The RSI for BTC/USD is now in the overbought zone.
Significant Assistance Levels– $17,150, followed by $17,000.
Significant Resistance Levels– $17,350, $17,450 and $18,000.