Bitcoin's price has risen above the $30,500 level and is showing signs of moving towards the $31,000 resistance zone. The cryptocurrency is trading above $30,400 and the 100 hourly Simple moving average, with a bullish trend line forming near $30,500 on the hourly chart of the BTC/USD pair.
However, if the price fails to clear the $30,700 resistance, it could start another decline towards the $30,000 support zone. Technical indicators show the MACD gaining pace in the bullish zone and the RSI for BTC/USD above the 50 level.
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