Bitcoin price broke the key $52,000 resistance zone against the US Dollar. BTC remains supported and it could continue to climb higher towards $55,000. Bitcoin started a fresh increase above the $51,500 and $52,000 resistance levels. The price is now trading above $52,000 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $52,250 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could dips a few points, but it might find support near $52,250 and $52,000. Bitcoin Price Extends Gains Bitcoin price consolidated above the $51,000 zone for some time before starting a fresh increase. BTC broke the key $52,000 resistance zone and the 100 hourly simple moving average to move further into a positive zone. The price even broke the $52,500 resistance and traded as high as $52,800. It is now trading well above $52,000 and the 100 hourly simple moving average. An immediate support is near the $52,400 level. It is near the 23.6% Fib retracement level of the recent increase from the $51,183 swing low to $52,800 high. The next support could be near the $52,250 level. There is also a key bullish trend line forming with support near $52,250 on the hourly chart of the BTC/USD pair. Source: BTCUSD on TradingView.com The main support is now forming near the $52,000 level. It is close to the 50% Fib retracement level of the recent increase from the $51,183 swing low to $52,8...
