Bitcoin price is rising above the $26,500 resistance. BTC could gain bullish momentum if it settles above the $27,200 and $27,500 resistance levels.
- Bitcoin is slowly moving higher above the $26,500 resistance.
- The price is trading above $26,500 and the 100 hourly Simple moving average.
- There is a key bullish trend line forming with support near $26,600 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could rise further if it clears the $27,200 and $27,500 resistance levels.
Bitcoin Price Eyes Sustained Upward Move
Bitcoin price managed to settle above the $26,000 resistance zone. BTC climbed higher steadily above the $26,200 and $26,500 resistance levels. It even spiked above the $27,000 level but there was a lack of bullish momentum.
A high is formed near $27,184 and the price is now correcting gains. There was a move below the $27,000 support. It is now trading below the 23.6% Fib retracement level of the recent increase from the $26,253 swing low to the $27,184 high.Bitcoin price is now trading above $26,500 and the 100 hourly Simple moving average. Besides, there is a key bullish trend line forming with support near $26,600 on the hourly chart of the BTC/USD pair.
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