Bitcoin price is rising above the $28,000 resistance. BTC bulls seem to be aiming a fresh surge above the $28,500 and $28,800 resistance levels.
- Bitcoin is slowly moving higher above the $27,500 resistance zone.
- The price is trading above $28,000 and the 100 hourly simple moving average.
- There is a short-term breakout pattern forming with resistance near $28,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could rally if there is a clear move above the $28,500 and $28,800 resistance levels.
Bitcoin Price Reclaims $28K
Bitcoin price started a decent increase above the $27,500 resistance. BTC gained pace and was able to clear many hurdles near the $27,800 and $28,000 levels.
During the increase, there was a break above a key bearish trend line with resistance near $27,800 on the hourly chart of the BTC/USD pair. It opened the doors for a push towards the key $28,500 resistance zone. A high is formed near $28,629 and the price is now consolidating gains.Bitcoin price is now trading above $28,000 and the 100 hourly simple moving average. There is also a short-term breakout pattern forming with resistance near $28,500 on the hourly chart of the BTC/USD pair.
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