Bitcoin price started a fresh increase above the $28,000 resistance. BTC must clear $28,500 and $28,800 resistance levels to continue higher.
- Bitcoin climbed higher and was able to test the $28,550 resistance zone.
- The price is trading above $28,200 and the 100 hourly Simple moving average.
- There was a break above a major bearish trend line with resistance near $28,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could extend its increase if it clears the $28,550 resistance level.
Bitcoin Price Clears Resistance
Bitcoin price remained well-bid above the $27,700 support zone. BTC formed a base and was able to climb again above the $28,000 resistance zone.
There was a clear move above the $28,200 resistance zone and the 100 hourly Simple moving average. Besides, there was a break above a major bearish trend line with resistance near $28,000 on the hourly chart of the BTC/USD pair.However, Bitcoin’s price is now trading above $28,200 and the 100 hourly Simple moving average. Immediate resistance is near the $28,450 level. The next major resistance is near the $28,550 zone. A close above the $28,550 resistance might push the price higher toward the range resistance.