Bitcoin Price Key Trend is Forming And BTC Could Soon Surge to $18K

Dec 5, 2022 04:00 am Cryptocurrency 125

Bitcoin price gained pace for a fresh move above $17,000. BTC is rising and might climb higher towards the $18,000 resistance zone.

Bitcoin started a fresh increase above $17,000 and $17,200 resistance levels.

The price is trading above $16,800 and the 100 hourly simple moving average.

There was a break above a major bearish trend line with resistance near $17,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair seems to be eyeing a move towards the $17,650 resistance or even $18,000.

Bitcoin Price Restarts Increase

Bitcoin price found support near the $16,800 zone after a downside correction. BTC remained well bid and started a fresh increase above the $17,000 resistance zone.

It even broke the $17,150 level and settled above the 100 hourly simple moving average. The price gained pace above the 76.4% Fib retracement level of the downward move from the $17,315 swing high to $16,784 swing low. Besides, there was a break ..

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