TA: Bitcoin Price Breakout Suggests A Short-term Trend Change

TA: Bitcoin Price Breakout Suggests A Short-term Trend Change


Bitcoin gained pace above the $39,000 resistance against the US Dollar. BTC even tested $40,000 and might continue to rise in the near term.

Bitcoin started a decent increase above the $38,800 and $39,000 resistance levels. The price is now trading above $39,000 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $38,475 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might attempt more upsides above the $40,000 and $40,300 levels. Bitcoin Price Breaks Higher

Bitcoin price formed a strong base above the $37,500 level. BTC started a steady increase and was able to clear the $38,500 resistance zone.

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There was a break above a major

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