• Bitcoin price extended its increase and surged above $18,000.
• BTC is gaining pace and might rise towards the $19,000 resistance zone.
• Bitcoin is currently trading above $18,000 and the 100 hourly simple moving average.
The Bitcoin market has seen a notable surge in its price over the past few days. After breaking above the key $17,000 resistance level, Bitcoin has been on a steady upward trajectory and is currently trading above the $18,000 mark. The bulls have been pushing the price higher, with the currency now edging closer to the $19,000 resistance.
The surge has been fueled by the bullish sentiment in the market, with investors becoming increasingly confident in the long-term prospects of the digital asset. This has been further bolstered by the fact that institutional investors have been steadily increasing their exposure to the asset.
The technical indicators also point towards further upside potential for the currency. There is a key bullish trend line forming with support near $17,400 on the hourly chart of the BTC/USD pair. This indicates a strong upward momentum, and if this level is maintained, Bitcoin could continue to move up towards the $19,000 resistance zone.
The surge in Bitcoin’s price has been widely celebrated by crypto enthusiasts, with many believing that the asset is well positioned to break the all-time high of $20,000. If the bulls are able to maintain the current momentum and push the price higher, then the asset could soon make new highs.
Overall, the cryptocurrency market is in a bullish state, with Bitcoin being the star of the show. The digital asset is currently trading at a premium and investors are hopeful that it can continue to break new highs. With the technical indicators pointing towards further upside potential, it is likely that Bitcoin will continue its surge in the coming days.