Bitcoin gains fresh momentum! It might target high above $35K.
Bitcoin price regains strength and breaks past $33,500 against USD. BTC seems to continue surging higher than $35,000 soon.
Bitcoin Price goes Green
Once again, Bitcoin declined. However, the bulls were active over the main $30,000 support zone. BTC forms a base over the $30,000 zone to begin a new increase. BTC broke the $32,500 resistance to move into a more positive zone.
There has been a break over the 50% Fib retracement level of the downward move from the $35,460 swing high to $30,200 one. It then cleared the $33,500 resistance one then settled well over the 100 hourly SMA.
Furthermore, there has been a break over a key bearish trend line with a resistance around $33,300 on the hourly chart of the BTC/USD pair. The pair then climbed over the $33,300 on the hourly chart of the BTC/USD pair. The pair then climbed over the 76.4% Fib retracement level of the downward move from the $35,460 swing high to $30,200 zone.
The latest price action is positive and shows that Bitcoin can continue rising to the $35,000 resistance. The next key resistance is close to $35,500, where the bulls aim a rally to $38,000. The next major resistance is near the $40,000 zone.
BTC’s limited dips
When bitcoin didn’t clear the $35,000 resistance, it might start a downside correction. A close support on the downside is close to the $34,000 level.
The upcoming major support is close to the $33,500 level. Now the main support is forming close to the $33,000 level and the 100 hourly SMA. A downside break lower than the 100 hourly SMA can open the doors for a new drop to the $30,000 zone in the next sessions.
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