Veröffentlicht von •Bitcoin price climbed further higher above $18,500, testing the $19,000 resistance zone and is currently consolidating gains.
•The pair could correct lower towards the $18,500 and $18,350 support levels.
•The next major resistance is near the $19,200 zone, above which the price might start another steady increase.
The cryptocurrency market has been experiencing a surge lately, with Bitcoin being one of the biggest beneficiaries. The leading crypto asset has been gaining steadily over the past few weeks, with the price recently climbing above the $18,500 mark. This upward momentum has been causing Bitcoin to test the $19,000 resistance zone, and it is currently consolidating its gains.
The bullish trend of Bitcoin is being driven by a combination of factors, including increased institutional involvement, optimism regarding the upcoming halving event, and growing demand for a digital store of value. The current uptrend shows no signs of slowing down, as the price has been continuously surpassing new all-time highs.
On the technical side, the Bitcoin price has been forming a connecting bullish trend line with support near the $18,600 level. If the price fails to break above the $19,000 resistance level, the bulls might face a minor correction towards the $18,500 and $18,350 support levels. In the event of a successful breakout, the next major resistance is near the $19,200 level, above which the price could potentially see another steady increase.
Overall, Bitcoin is currently in a strong bullish trend and looks set to continue its upward momentum in the near future. As more institutional investors enter the market and the halving event draws closer, the leading crypto asset is likely to become even more attractive. All eyes are now on the $19,000 resistance level and whether Bitcoin will be able to break it. If it does, the crypto asset could potentially surge further and potentially set a new all-time high.