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What is Bitcoin (BTC) Doing Right Now?
Bitcoin is currently trading just around the $19,000 mark and is still quite stagnant on the lower timeframes. The price has been trading within the same zone for days now, and there has not been enough trading volume to get things going. The $19,000 mark is also the support we are watching now, and we expect Bitcoin to get a little bounce from here in the immediate short term. Let’s take a quick look at the latest BTC charts to see where the price could be headed in the coming hours.
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Analyzing the Charts
If we take a quick look at the latest timeframes, we can see that the price has been trading between $19,000 to $19,200 for a while now.
The current resistance we are watching right now on lower timeframes is the $19,200 mark. Once the price breaks above this level, it will be a sign that BTC will retest $19,600 once again.
On the other hand, if we see an increase in selling volume and the price drops below $19,000, then Bitcoin will make significant moves toward the downside. The next major level we will be eyeing in that scenario is the support at $18,600.
The $18,600 mark is a strong support region that has held the price nicely in the past. The sellers will have to really push the price to break below this level.
Conclusion: Final Verdict on Bitcoin (BTC)
Bitcoin is currently trading around the $19,000 mark and still seems to be heading sideways on the lower timeframes. There has not been enough movement for Bitcoin in the past few weeks, and the price has been hovering around the $19K and $20K region. We will again not be taking any short-term trades and will wait for the market to get a move along.
How to Trade Bitcoin (BTC)?
To understand the basics of Bitcoin trading, you can read our How To Trade Bitcoin Guide. It can prove helpful for traders who are just getting started with Bitcoin trading. You can also check out our list of top Bitcoin Exchanges To Trade With.
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