Bitcoin's price is gradually increasing and may experience a significant surge if it surpasses the $27,200 resistance level. The cryptocurrency has formed a base and is now trading above $27,000 and the 100 hourly Simple moving average. However, there is a crucial bearish trend line forming with resistance near $27,150 on the hourly chart of the BTC/USD pair. If Bitcoin fails to clear the $27,150 resistance, it could start another decline with immediate support on the downside near the $26,900 level. Technical indicators show that the MACD is gaining pace in the bullish zone and the RSI for BTC/USD is now above the 50 level.
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Bitcoin Price Eyes Upside Break, Could Start Strong Increase Above $27,200 Resistance Zone
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