- Bitcoin price is slowly moving higher towards the $5,300 and $5,360 resistances against the US Dollar.
- The price is placed nicely in an uptrend and it could gain strength above $5,360.
- Yesterday’s highlighted significant ascending channel is intact with support at $5,180 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair remains supported on dips and it is likely to trade to a new 2019 high above $5,360.
Bitcoin bulls are gaining momentum above $5,200 against the US Dollar. BTC price may continue to rise and it is likely to climb above the $5,360 and $5,400 resistance levels.
Bitcoin Price Analysis
In the past three sessions, there were mostly range moves below $5,300 in bitcoin price against the US Dollar. Earlier, the BTC/USD pair started a downside correction after trading as high as $5,362. It declined below the $5,250 support area and the 23.6% Fib retracement level of the upward move from the $4,896 low to $5,362 high. There was also a break below…
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