Bitcoin price stayed above the $33,200 support zone. BTC is rising and might aim for a fresh rally above the $35,000 resistance.
- Bitcoin is again moving higher and approaching the $35,000 resistance.
- The price is trading above $34,000 and the 100 hourly Simple moving average.
- There is a major bullish trend line forming with support near $34,220 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could start a fresh surge if there is a close above the $35,000 resistance zone.
Bitcoin Price Eyes More Gains
Bitcoin price corrected gains from the $35,000 resistance zone. BTC declined below the $34,200 and $34,000 levels. However, the bulls were active above the $33,200 level.
A low was formed near $33,250 and the price recently started a fresh increase. There was a clear move above the $34,000 resistance zone. The price climbed above the 50% Fib retracement level of the downward move from the $35,225 swing high to the $33,250 low.Bitcoin is now trading above $34,000 and the 100 hourly Simple moving average. There is also a major bullish trend line forming with support near $34,220 on the hourly chart of the BTC/USD pair.
On the upside, immediate resistance is near the $34,750 level or the 76.4% Fib retracement level of the downward move from the $35,225 swing high to the $33,250 low. The next key resistance could be near $35,000. The main resistance is now forming near the $35,200 zone.
