Bitcoin Price Breaks $36K – Is This Start of A Fresh Rally?

Nov 9, 2023 04:00 am Cryptocurrency 100

Bitcoin price finally cleared the $36,000 resistance. BTC is showing positive signs and might continue to rise toward the $37,500 resistance.

Bitcoin gained pace for a move above the $36,000 resistance zone.

The price is trading above $36,000 and the 100 hourly Simple moving average.

There is a key bullish trend line forming with support near $35,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair is consolidating gains and might continue to rise toward $37,500.

Bitcoin Price Spikes Higher

Bitcoin price remained well-bid above the $35,000 support zone. BTC formed a base above the $35,500 zone and finally started a decent increase. It broke the key hurdle at $36,000 to start a fresh rally.

There was a spike toward the $36,500 level. A high is formed near $36,525 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the $35,100 swing ..

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