Bitcoin Breaks Free: Emerging from Bearish Sentiment, Crypto Market Optimism Rises

Bitcoin price is up nearly 8% and it broke many hurdles. BTC is now consolidating gains and might correct in the short term toward $65,000.

Bitcoin started a strong increase and cleared the $63,500 resistance zone.

The price is trading above $65,000 and the 100 hourly Simple moving average.

There was a break above a key bearish trend line with resistance at $61,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair could correct gains but the bulls might be active near $65,000 and $64,500.