Bitcoin price started a fresh increase above the $64,750 resistance. BTC is now consolidating near $65,000 and might remain supported.
Bitcoin is consolidating gains near the $65,000 zone.
The price is trading above $64,200 and the 100 hourly Simple moving average.
There is a short-term contracting triangle forming with resistance at $65,250 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could start another increase if there is a clear move above the $65,250 resistance zone.
Bitcoin Price Regains Strength
Bitcoin price remained supported near the $62,650 level. BTC formed a base and started a fresh increase above the $63,500 resistance zone. It gained pace for a move above the $64,200 resistance zone.
The bulls even pumped the price above $65,000. A high was formed at $65,764 and the price is now consolidating gains. There was a minor decline below the $65,200 level. The price dipped below the 23.6% Fib retracement level of the upward move from t
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