TA: Bitcoin Trim Losses, Why Bulls Need To Overcome $32.5K For More Upsides
Bitcoin price started a strong upward move from the $29,250 support zone against the US Dollar. BTC must settle above $32,000 and $32,500 for more upsides in the near term. Bitcoin started a strong increase above the $30,000 and $31,000 resistance levels. The price is now trading well above $31,000 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $31,250 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could correct gains, but the bulls are likely to remain active near $31,200. Bitcoin Price Surges....
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