Bitcoin Price Close Below $20K Could Spark Larger Degree Increase

Bitcoin price is slowly increasing above $19,500. BTC could start a steady increase if there is a close between $19,600 and $20,000.

Bitcoin Price Close Below $20K Could Spark Larger Degree Increase

There is a key bullish trend line forming with support near $19450 on the hourly chart of the BTC/USD pair. 

The pair could not start a steady increase if there is a clear move above the $10,700. 

Bitcoin price above the $19,000 level, Bitcoin traded as low as $18,937 and started an increase. 

The live Bitcoin price today is $19,598.44 USD with a 24-hour trading volume of $29,276,046,291 USD. Bitcoin is up 2.56% in the last 24 hours. The current CoinMarketCap ranking is #1, with a live market cap of $375,674,596,198 USD. It has a circulating supply of 19,168,600 BTC coins and a max. supply of 21,000,000 BTC coins.

The global crypto market cap is $944.43B, a 2.33% increase over the last day. The total crypto market volume over the last 24 hours is $51.65B, which makes an 11.51% increase. The total volume in DeFi is currently $3.93B, 7.62% of the total crypto market 24-hour volume. The volume of all stablecoins is now $48.06B, which is 93.04% of the total crypto market 24-hour volume.

Bitcoin’s dominance is currently 39.80%, an increase of 0.15% over the day.

The price was able to clear the 50% FIB retracement level of the downward move from the $20.177 swing high to the $18,937 low. there was a move above the $19,500 resistance level to move into a short-term positive zone. 

Currently, the BTC price is trading above $19,400 and the 100 hourly simple moving average. there is also a key bullish trend line forming with support near $19,450 on the hourly chart of the BTC/USD pair. 

If Bitcoin fails to rise above the $19,00 resistance zone it could start a fresh decline and immediate support on the downside is near the $19,400 zone. 

The next support zone is $19,000 which there could be a major decline the price may perhaps decline towards the $17,500 support. 

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