Bitcoin price finally cleared the $36,000 resistance. BTC is showing positive signs and might continue to rise toward the $37,500 resistance.
<ul>
 <li>Bitcoin gained pace for a move above the $36,000 resistance zone.</li>
 <li>The price is trading above $36,000 and the 100 hourly Simple moving average.</li>
 <li>There is a key bullish trend line forming with support near $35,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).</li>
 <li>The pair is consolidating gains and might continue to rise toward $37,500.</li>
</ul>
<h2 id="bitcoin-price-spikes-higher">Bitcoin Price Spikes Higher</h2>
Bitcoin price remained well-bid above the <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-rejects-36k/" target="_blank" rel="noopener noreferrer nofollow">$35,000 support zone</a>. BTC formed a base above the $35,500 zone and finally started a decent increase. It broke the key hurdle at $36,000 to start a fresh rally.
There was a spike toward the $36,500 level. A high is formed near $36,525 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the $35,100 swing low to the $36,525 high.
Bitcoin is also trading above $36,000 and the <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-consolidates-34k/" target="_blank" rel="noopener noreferrer nofollow">100 hourly Simple moving average</a>. Besides, there is a key bullish trend line forming with support near $35,800 on the hourly chart of the BTC/USD pair. The trend line is near the 50% Fib retracement level of the upward move from the $35,100 swing low to the $36,525 high.
<a href="https://www.newsbtc.com/wp-content/uploads/2023/11/Bitcoin-8.png?resize=1024%2C468" rel="noopener noreferrer nofollow"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-559843" src="https://www.newsbtc.com/wp-content/uploads/2023/11/Bitcoin-8.png?resize=1024%2C468" alt="Bitcoin Price" width="1024" height="468" srcset="https://www.newsbtc.com/wp-content/uploads/2023/11/Bitcoin-8.png?resize=1024%2C468?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2023/11/Bitcoin-8.png?resize=1024%2C468?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2023/11/Bitcoin-8.png?resize=1024%2C468?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/11/Bitcoin-8.png?resize=1024%2C468?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2023/11/Bitcoin-8.png?resize=1024%2C468?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2023/11/Bitcoin-8.png?resize=1024%2C468?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/11/Bitcoin-8.png?resize=1024%2C468?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a>
Source: <a href="https://www.tradingview.com/symbols/BTCUSD/" target="_blank" rel="noopener noreferrer nofollow">BTCUSD on TradingView.com</a>
On the upside, immediate resistance is near the $36,500 level. The next key resistance could be near $37,000, above which the price might accelerate further higher. In the stated case, it could test the $37,500 level. Any more gains might send BTC toward the $38,000 level.
<h2 id="are-dips-limited-in-btc">Are Dips Limited In BTC?</h2>
If Bitcoin fails to rise above the $36,500 resistance zone, it could start a downside correction. Immediate support on the downside is near the $36,150 level.
The next major support is near the $35,800 zone or the trend line. If there is a move below $35,800, there is a risk of more downsides. In the stated case, the price could decline toward the key support at $35,000 in the near term.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.
Major Support Levels – $36,150, followed by $35,800.
Major Resistance Levels – $36,500, $37,000, and $37,500.

Bitcoin Price Breaks $36K – Is This Start of A Fresh Rally?

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