Bitcoin Price Forms Short-Term Bullish Pattern, Why BTC Could Rise To $20K

Bitcoin price is consolidating near the $19,000 level against the US Dollar. BTC seems to be forming a short-term bullish pattern and might rise towards $20,000.

• Bitcoin is struggling to gain pace for a move above the $19,200 level.
• The price is trading below above $19,400 and the 100 hourly simple moving average.
• There is a new connecting bearish trend line forming with resistance near $19,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could start a fresh increase unless there is a clear move below the $18,950 level.

Bitcoin Price Remains In A Range

Bitcoin price was seen trading in a rang