Bitcoin price started a fresh rally above $65,000 against the US Dollar. BTC is showing positive signs and it could rise further towards $70,000. Bitcoin started a fresh increase above the $62,500 and $63,500 resistance levels. The price is now trading above $65,000 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $61,550 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could accelerate further higher once there is a close above the $66,000. Bitcoin Price Gains Pace Bitcoin price remained well bid above the $60,000 support zone. As a result, BTC started a fresh rally above the $62,500 and $63,500 resistance levels. The bulls even pumped the price above the $65,000 level and the 100 hourly simple moving average. Besides, there was a break above a major bearish trend line with resistance near $61,550 on the hourly chart of the BTC/USD pair. The pair gained pace for a move above the $65,500 level. A high is formed near $65,681 and the price is now consolidating gains. Bitcoin is trading well above the 23.6% Fib retracement level of the upward move from the $60,129 swing low to $65,681 high. On the upside, an immediate resistance is near the $65,500 level. The first major resistance is near the $66,000 level. Source: BTCUSD on TradingView.com A clear break above $66,000 resistance may possibly call open the doors for a fresh rally. The next m...
