Bitcoin price is gaining pace above the $44,000 resistance. BTC could rise further if it clears the $44,800 resistance zone in the near term.
- Bitcoin price was able to surpass the $43,400 and $43,500 resistance levels.
- The price is trading above $44,000 and the 100 hourly Simple moving average.
- There was a break above a major rising channel with resistance at $43,650 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could continue to move up if it clears the $44,800 resistance zone.
Bitcoin Price Starts Fresh Increase
Bitcoin price remained well-bid above the $42,500 level. BTC started a fresh increase above the $43,400 and $43,500 resistance levels. Besides, there was a break above a major rising channel with resistance at $43,650 on the hourly chart of the BTC/USD pair.
The pair even surged above the $44,000 resistance zone. It traded to a new weekly high at $44,780 and is currently consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the $42,767 swing low to the $44,780 high.Bitcoin is now trading above $44,000 and the 100 hourly Simple moving average. Immediate resistance is near the $44,800 level. The next key resistance could be $45,000, above which the price could start another decent increase. The next stop for the bulls may perhaps be $45,750.
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