Bitcoin Price (BTC/USD) Signaling Bullish Acceleration Above $10,500

• Bitcoin price traded higher and broke the key $10,200 resistance area against the US Dollar.
• The price is placed nicely above the $10,200 level and it recently tested the $10,500 area.
• There is a major bullish trend line forming with support near $10,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The price remains in an uptrend and it may soon accelerate above the $10,500 resistance level.

There were decent gains in bitcoin price above $10,200 against the US Dollar. BTC price is likely preparing for more gains above the $10,500 and $10,600 levels.

Bitcoin Price Analysis

In the past few sessions, there were positive moves in bitcoin price above $10,000 against the US Dollar. The BTC/USD pair broke the main $10,200 resistance level to move further into the bullish zone. Moreover, there was a close above the $10,200 resistance and the 100 hourly simple moving average. It opened the doors for more gains above the $10,400 level and the price tested the $10,500 resistance…