Bitcoin price is holding gains above the $69,200 zone. BTC could gain bullish momentum if it clears the $70,800 and $71,250 resistance levels.
Bitcoin is attempting another increase above the $70,000 zone.
The price is trading above $70,000 and the 100 hourly Simple moving average.
There is a connecting bearish trend line forming with resistance at $70,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could gain bullish momentum if it clears the $71,250 resistance zone.
Bitcoin Price Eyes Another Increase
Bitcoin price attempted more gains above the $70,500 level. However, BTC struggled to gain pace for a move above the $71,200 and $71,400 levels.
A high was formed at $71,250 before there was a downside correction. There was a move below the $70,500 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $67,500 swing low to the $71,250 high.
However, the bulls are active above the $69,200 level. It is close to
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