Bitcoin Price Heading towards $18K: Could Aim for $19K All-Time High

• Bitcoin price extended its increase and traded towards $17,500.
• BTC is consolidating gains and might aim a move towards the $18,000 resistance.
• Bitcoin is trading above $17,200 and the 100 hourly simple moving average.

The cryptocurrency market has been experiencing a period of growth over the past few weeks, with Bitcoin leading the way. Bitcoin price has been steadily rising since the beginning of October, breaking through a number of key technical levels as it extended its gains.

On November 19th, Bitcoin price extended its increase and traded towards $17,500. This marked the highest level seen since mid-January 2018, when Bitcoin was trading near an all-time high of $19,500. The latest surge in Bitcoin price was mainly driven by an influx of institutional investors and the increasing popularity of decentralized finance (DeFi).

BTC is now consolidating gains and might aim a move towards the $18,000 resistance. At the time of writing, Bitcoin is trading above $17,200 and the 100 hourly simple moving average. On the hourly chart of the BTC/USD pair, there is a major bullish trend line forming with support near $17,350. The pair could continue to move up towards the $18,000 resistance zone.

If Bitcoin is able to break through the $18,000 resistance, it could open the door for further gains. The next major resistance level could be $18,500, which is the all-time high of January 2018. Breaking through this level could lead to a rally towards the $19,200 mark.

On the downside, the $17,000 pivot zone is the key level to watch. If Bitcoin is unable to remain above this level, it could see a deeper decline back towards the $16,000 mark. The $15,000 region is also a key support level, which could provide some support to Bitcoin price should it decline.

Overall, Bitcoin price is looking bullish with a potential move towards the $18,000 resistance zone. If Bitcoin is able to break through this level, it could open the door for further gains. On the other hand, if Bitcoin is unable to remain above the $17,000 pivot zone, it could see a deeper decline back towards the $16,000 mark.

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