Bitcoin price is moving higher above the $26,000 resistance. BTC could continue to rise if there is a clear move above the $26,800 zone.
- Bitcoin started a recovery wave above the $26,000 resistance.
- The price is trading above $26,000 and the 100 hourly Simple moving average.
- There is a key bearish trend line forming with resistance near $26,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could rise further if it clears the $26,650 and $26,800 resistance levels.
Bitcoin Price Regains $26,000
Bitcoin price remained well-bid above the $25,500 resistance zone. As a result, BTC started a fresh recovery wave above the $26,000 resistance zone and even broke $26,200.
The bulls pushed the price above the $26,500 level. A high is formed near $26,793 and the price is now consolidating gains. It is now trading near the 23.6% Fib retracement level of the upward move from the $24,751 swing low to the $26,793 high.Bitcoin price is now trading above $26,000 and the 100 hourly Simple moving average. Besides, there is a key bearish trend line forming with resistance near $26,200 on the hourly chart of the BTC/USD pair.
Source: