TA: Bitcoin Price Remains Range bound, Why There’s Hope of a Fresh Rally

TA: Bitcoin Price Remains Range bound, Why There’s Hope of a Fresh Rally


Bitcoin started an upside correction from the $18,150 zone against the US Dollar. BTC is back above $19,200 and a break above $19,500 could spark a fresh rally.

Bitcoin is showing a few positive signs above the $19,000 level. The price is trading above $19,000 and the 100 hourly simple moving average. There is a key contracting triangle forming with support near $19,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could stage a fresh rally if there is a clear move above the $19,500 resistance zone. Bitcoin Price Recovers

Bitcoin price remained well bid above the $18,150 level. BTC traded as low as $18,138 and started a decent recovery wave. The price was able to recover

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