- Bitcoin price settled above the $5,160 resistance and climbed above $5,250 against the US Dollar.
- The price traded towards the $5,300 resistance and it is currently consolidating gains.
- There is a key ascending channel in place with support at $5,230 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could dips a few points, but it remains well supported for more gains above $5,300 and $5,350.
Bitcoin price gained bullish momentum above $5,250 against the US Dollar. BTC remains in an uptrend and it is likely to climb above $5,400 or even $5,450 in the near term.
Bitcoin Price Analysis
In the past three sessions, there were positive moves above $5,160 in bitcoin price against the US Dollar. After yesterday’s positive close above the $5,160 resistance, BTC/USD gained strength. There was a minor downside correction from the $5,275 swing high, but dips remained supported. The previous important resistances near $5,180 and $5,160 acted as strong supports. The…
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