#BTC

Bitcoin price is consolidating gains above the $94,000 zone. BTC is again rising and might aim for a move above the $95,500 resistance zone.

1.Bitcoin remained supported above the $93,850 zone.

2.The price is trading above $94,100 and the 100 hourly Simple moving average.

3.There was a break below a connecting bullish trend line with support at $94,850 on the hourly chart of the BTC/USD pair (data feed from Kraken).

4.The pair could start another increase if it clears the $95,500 zone.

If Bitcoin fails to rise above the $95,500 resistance zone, it could start another downside correction. Immediate support on the downside is near the $94,500 level. The first major support is near the $93,850 level.

The next support is now near the $93,500 zone. Any more losses might send the price toward the $92,500 support in the near term. The main support sits at $91,200