Bitcoin Price Rangebound After Surge — Breakout Momentum Building?

Bitcoin price started a strong increase and traded above the $75,500 zone. BTC is now consolidating and might aim for more gains if it clears $76,000. Bitcoin started a decent upward move above the $75,000 zone. The price is trading above $73,500 and the 100 hourly simple moving average. There is a bullish trend line forming with support at $72,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might continue to rise if it clears the $75,000 and $76,000 levels. Bitcoin Price Starts Consolidation Bitcoin price remained supported and extended its increase above the $73,500 level. BTC climbed above the $74,200 and $74,500 resistance levels. The bulls were able to pump the price above $75,000. A high was formed at $75,998, and the price recently corrected some gains. There was a move below the 23.6% Fib retracement level of the recent upward move from the $70,292 swing low to the $75,998 high. Bitcoin is now trading above $73,500 and the 100 hourly simple moving