[vc_row][vc_column][vc_column_text]Bitcoin price is attempting an upside break above the $28,500 resistance zone. BTC could rally if there is a close above the $28,500 resistance zone.
- Bitcoin is gaining pace above the $28,000 resistance.
- The price is trading above $27,500 and the 100 hourly simple moving average.
- There is a key bullish trend line forming with support near $27,780 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could gain bullish momentum if there is a close above the $28,500 resistance.
Bitcoin Price Eyes More Gains
Bitcoin price made another attempt to clear the $28,500 resistance zone. However, BTC struggled to gain pace for a close above the $28,500 resistance zone.
As a result, there was a downside correction below the $28,000 level. The price spiked below the 50% Fib retracement level of the upward move from the $23,912 swing low to $28,591 high. It tested the key $27,400 support zone and the 100 hourly simple moving average.
The next major resistance is near the $28,500 zone or the recent high. A close above the $28,500 resistance might start another major increase. In the stated case, the price could rise towards the $29,200 level. Any more gains might send the price towards the $30,000 resistance zone.
Dips Limited in BTC?
If bitcoin price fails to clear the $28,500 resistance, it could start a downside correction. An immediate support on the downside is near the $27,780 zone, the 100 hourly simple moving average, and the trend line.Read bitcoin news daily on ktsl888.com[/vc_column_text][/vc_column][/vc_row]
