![bitcoin 2017 graph bitcoin 2017 graph](https://datalion.com/wp-content/uploads/2015/09/blockchain_20170608.png)
Interestingly, bulls have multiple accumulation points between the $17,800 to $17,000 price range.
![bitcoin 2017 graph bitcoin 2017 graph](https://d15-a.sdn.cz/d_15/c_img_F_P/ojhfu0.jpeg)
BTC whales and large investors are also likely book partial profits near the top of the present ascending channel. The cryptocurrency heatmap data suggests that sellers will take over the narrative once the pair settles near the $18,000 level. Technical indicators are flashing red – How high will BTC/USD price go? In case BTC/USD pair punches higher, the pair will face resistance at $19,000, where profit booking can result in heavy selling pressure. The $17,000 level, which previously served as resistance, is now firmly a support point. The lower channel support level at $16,285 will likely turn into an accumulation point for the bulls. The MACD on the daily charts is now firmly established in the bullish region. The pair may test $17,000 during the ongoing correction as hourly RSI readings cool down. The upwards trajectory can face minor hurdles along the way near the $18,580 region. Bitcoin trend in the past 24 hours shows underlying bullish resolveĪs long as the 55-day SMA holds the fort and moves upward gradually, the BTC/USD pair will remain highly bullish. If bulls can maintain a relentless momentum, the rally can stretch towards the $19,000 level. On the upside, the Bitcoin trend will have to take down $18,000 once again and close above this crucial level. Any significant correction is likely to hold at this point and then bounce back towards $16,200 support at the 55-day SMA line.
![bitcoin 2017 graph bitcoin 2017 graph](https://i.ytimg.com/vi/DJqtAK74Tjc/maxresdefault.jpg)
In a bear scenario, the break below the $16,200 support line will extend beyond $15,500. The pair also boasts of a crucial bullish trend line that has supported the pair all along its journey from the $16,800 level. A vital support area lies around the $17,200 region as the 61.8 percent Fibonacci retracement firmly holds the pair. The healthy correction also helped retrace the 50 percent upmove that started from $16,570 and ended at a new 2020 high of $18,490. The price trades above the $17,800 mark comfortably, and technical indicators have cooled down after the sharp correction downwards in the hourly timeframe. The pair has reclaimed many significant levels that it lost in the 2017 bear downtrend. Traders and investors are cheering along as BTC/USD breaks new ground. BTC/USD 4-hour chart – Minor correction post a new multi-month high Bitcoin price chart by TradingView A sharp correction on the hourly charts happened expectedly and took the price towards the $17,870 support region. Now, BTC/USD trades in a positive zone as lower supports have moved up, and the moving averages are also sloping upwards. The bears were not allowed to bring the price down as all hurdles to $18,000 were broken with relative ease. The past few days have been pretty eventful in the BTC/USD cycle. Once past the resistance and establishing a new high, the price corrected lower towards the $17,880 level. The price pierced through Bollinger Bands and broke past the resistance at $17,800 with rising volume.
![bitcoin 2017 graph bitcoin 2017 graph](https://static.coindesk.com/wp-content/uploads/2020/07/eth-price-1-1200x628.png)
Today, the Bitcoin trend surged through $18,000 resistance to a new 2020 high of $18,483. The ultra-bullish Bitcoin trend has once again pushed BTC/USD beyond the latest highs. 4 Technical indicators are flashing red – How high will BTC/USD price go? Bitcoin trend repeats 2017 history – BTC/USD touches $18,483 high