TA: Bitcoin Price Seems Primed For A Strong Wave Above $21K

Bitcoin is moving higher and trading above the $20,000 zone against the US Dollar. BTC could surge if there is a clear move above $20,580 and $20,730. Bitcoin is showing a few positive signs above the $20,000 support zone. The price is now trading above the $20,000 level and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $19,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a strong upward move if there is a close above the $20,580 level. Bitcoin Price Aims Fresh Increase Bitcoin price stayed well above the $19,500 support zone. BTC formed a low near the $19,750 level and started another increase above the $20,000 resistance zone. There was a steady move and the price climbed above the 50% Fib retracement level of the downward move from the $20,732 swing high to $19,750 low. The price is now trading above the $20,000 level and the 100 hourly simple moving average. There is also a major bullish trend line forming with support near $19,800 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading comfortably near the $20,500 zone and the 76.4% Fib retracement level of the downward move from the $20,732 swing high to $19,750 low. Source: BTCUSD on TradingView.com On the upside, the price is facing resistance near the $20,550 and $20,580 levels. The next key resistance is near the $20,730 zone. A close above the $20,730 resista...