Bitcoin Price Watch: BTC/USD Breaks Key Resistance, Dips Remain Supported

This aggregated story was originally published on this site. Follow the link in the word Story at left to read the full article.

Key PointsBitcoin price gained bullish momentum and surged above the $6,480 and $6,550 resistances against the US Dollar.Yesterday’s highlighted key bearish trend line was breached with resistance near $6,475 on the hourly chart of the BTC/USD pair (data feed from Kraken).The pair traded above the $6,900 and is currently correcting lower towards key supports.Bitcoin price broke key resistance at $6,550 against the US Dollar. BTC/USD is back in a bullish zone with a close above the $6,620 high.Bitcoin Price AnalysisYesterday, we discussed a few important hurdles near $6,550 in bitcoin price against the US Dollar. The BTC/USD pair traded in a range above the $6,400 level and later surged higher. The price started an upward move and cleared the $6,480 and $6,550 resistance levels. Moreover, there was a break above the last swing high at $6,620 and the 100 hourly simple moving average.During the upside, yesterday’s highlighted key bearish trend