TA: This is why Bitcoin price points to the continuation of the upward trend towards $ 65,000.

Bitcoin's price started to rise further and cleared the $ 62,000 resistance against the US dollar. BTC traded at an all-time high around $ 63,862 and is expected to continue rising. Bitcoin pushed its rise above the $ 62,000 and $ 63,000 resistance levels. The price is currently trading well above the $ 62,500 level and the easy hourly moving average of 100. A bullish trend is forming with resistance near $ 63,600 on the hourly chart of the BTC / USD pair. (Kraken data feed). The pair is expected to remain above $ 64,000 and $ 64,200 in the upcoming sessions. Bitcoin Price Gains Ground Bitcoin started to move higher after breaking the key resistance zone at $ 61,120. It opened the doors for more gains above the $ 62,000 resistance zone. The price even broke the $ 63,000 level and traded at an all-time high of $ 63,862. It is currently trading well above the $ 62,500 level and the 100 hourly simple moving average. Instant support is now formed near the $ 62,850 level. The 23.6% Fib retracement level of the last wave from the low of $ 59,692 to $ 63,862 is near the $ 62,850 level. A bullish follow-up pattern is forming with resistance around $ 63,600 on the hourly chart for the BTC / USD pair. Source: If there is an upside break above the BTCUSD Triangle resistance on TradingView.com, bitcoin will likely increase gains above $ 63,862. In this case, the price may rise above the 64,000 USD level. The next big stop for the bulls could be $ 65,000 in the next few sessions. Are Dips supported in BTC? If Bitcoin does not break above $ 63,500 and $ 63,850, there could be a short-term downward correction. Initial bearish support is near the $ 62,850 level. A break below the triangle support and at $ 62,850 could result in a decline to the $ 61,800 level. It is near the 50% Fib retracement level of the last wave from the $ 59,692 to $ 63,862 high. Major support is currently forming near the $ 61,120 level ( Read more

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