Bitcoin gained pace and cleared the $19,500 resistance against the US Dollar. BTC is now facing resistance and might correct lower to $19,500 in the short-term.
Bitcoin Price Gains Pace
Bitcoin price formed a base above the $18,720 support zone. As a result, BTC started a decent increase and broke the $19,500 resistance zone.
There was a clear move above a key bearish trend line with resistance near $19,460 on the hourly chart of the BTC/USD pair. The price even broke the $20,000 resistance and settled above the 100 hourly simple moving average.
Bitcoin climbed above the 76.4% Fib retracement level of the key drop from the $20,500 ..
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