Bitcoin price is slowly gaining momentum and it broke the $10,700 resistance against the US Dollar. BTC is up 5%, but it is still facing a major resistance near $10,800 and $11,000.

  • Bitcoin is rising and it broke the $10,500 and $10,700 resistance levels.
  • It is now trading well above the $10,580 pivot level and the 100 hourly simple moving average.
  • There was a break above a key contracting triangle with resistance near $10,440 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair is still facing a crucial breakout resistance near $10,800 and $11,000.

Bitcoin Price is Gaining Traction

There was a steady rise in bitcoin price from the $10,200 support zone against the US Dollar. BTC broke the $10,500 resistance level to start the recent increase.

The bulls even pushed the price above the $10,580 pivot level and the price settled well above the 100 hourly simple moving average. The upward move gained pace after there was a break above a key contracting triangle with resistance near $10,440 on the hourly chart of the BTC/USD pair. The pair even…



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