Bitcoin price is extending its rise above $10,750 against the US Dollar. BTC is now approaching a crucial breakout zone near $10,850, $10,920, and $11,000.
- Bitcoin started a decent recovery wave above the $10,550 and $10,650 resistance levels.
- The price was able to clear the $10,750 resistance and settled above the 100 hourly simple moving average.
- Yesterday’s highlighted important rising channel is active with support near $10,720 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair is approaching a couple of major hurdles near $10,850, $10,920 and $11,000.
Bitcoin Price is Approaching Major Breakout Zone
Bitcoin price found support near the $10,350 zone and recently started a decent recovery wave against the US Dollar. BTC broke the $10,550 and $10,650 resistance levels to move into a short-term positive zone.
The upward move was such that the price was able to climb above the 50% Fib retracement level of the main drop from the $10,930 high to $10,387 low. The bulls were able to push the price above the $10,750 level and it tested the $10,800 resistance.
Bitcoin price climbs above $10,750. Source:The price is now approaching a couple of major hurdles near $10,850, $10,920 and $11,000. A successful daily close above the $11,000 resistance level is needed to start a strong upward move.