Bitcoin Price Jumps 5%, Why Recent Breakout Seems Significant
Bitcoin price traded to a new weekly low before reversing losses against the US Dollar BTC broke $19,500.
BTC is up approx 5% and there was a clear move above the $19,500 resistance level.
Bitcoin price is currently trading below above $19,500 and the 100 hourly simple moving average.
BTC/USD pair is showing bullish signs and maybe extend gains above $20,000.
The bears gained strength and the price dived to the $18,200 support zone, the bears failed to push the price further lower. A low was formed near $18,142 and there was a strong bullish reaction the price gained bullish momentum and climbed above the $19,000 level.
Bitcoin price cleared the 50% FIB retracement level of the downward move from the $20,443 swing high to the $18,142 low there was a break above a major bearish trend line with a resistance level near $19,150 on the hourly graph.
Bitcoin price is currently trading below above $19,500 and the 100 hourly simple moving average it is trading near the 76.4% retracement level of the downward move from the $20,443 swing high to the $18,142 low.
The live Bitcoin price today is $19,814.83 with a 24-hour trading volume of $49,267,477,447. Bitcoin is up 3.70% in the last 24 hours. The current CoinMarketCap ranking is #1, with a live market cap of $380,020,400,886 USD. It has a circulating supply of 19,178,581 BTC coins and a max. supply of 21,000,000 BTC coins.
Bitcoin price statistics the BTC price change in 24h is $712.07 of 3.73% and 24h low is $18,319.82 and 24h high is $19,835.17 with 40.39% Market Dominance and Bitcoin ROI is 14545.11%
The global crypto market cap is $941.64B, a 2.84% increase over the last day. The total crypto market volume over the last 24 hours is $88.02B, which makes a 61.23% decrease. The total volume in DeFi is currently $5.17B, 5.87% of the total crypto market 24-hour volume. The volume of all stablecoins is now $81.08B, which is 92.12% of the total crypto market 24-hour volume.
Bitcoin’s dominance is currently 40.35%, an increase of 0.33% over the day.
If Bitcoin fails to rise above the $20,000 level it could start falling and immediate support on the downside is near the $19,500 level.
The next Bitcoin major support is near the $19,200 zone and the 100 hourly SMA. a downside break below the $19,200 support zone may increase selling pressure in the stated case the price could be falling to the $18,500 level.