Bitcoin gained pace above the $63,000 resistance against the US Dollar. BTC is rising and it may soon clear the $65,000 resistance in the near term. Bitcoin is showing positive signs above the $61,000 and $62,500 levels. The price is now trading above $62,500 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $62,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could extend rally and it might even clear the $65,000 level in the near term. Bitcoin Price Eyes More Upsides Bitcoin price started a major increase above the $62,000 resistance zone. BTC broke the key $63,000 resistance zone and settled above the 100 hourly simple moving average. It even spiked above the $63,500 resistance and traded to a new multi-week high at $64,448. It is currently correcting lower and trading below the $64,000 level. An immediate support is near the $63,700 level. It is near the 23.6% Fib retracement level of the upward move from the $61,320 swing low to $64,448 high. There is also a key bullish trend line forming with support near $62,800 on the hourly chart of the BTC/USD pair. On the upside, an initial resistance is near the $64,000 level. The first key resistance is near the $64,250 level. Source: BTCUSD on TradingView.com A clear break above the $64,250 resistance could open the doors for more upsides. The next major resistance sits near the $65,000 level, above ...
