Bitcoin price has made a recovery and is now testing the $63,650 resistance level. If it is able to surpass this level, it may resume its climb. BTC is currently consolidating its gains and could make another attempt to break through the resistance. The price of Bitcoin started to increase above the $62,500 and $63,000 levels, trading above the 100 hourly Simple moving average. There is also a bullish trend line forming with support at $62,800 on the hourly chart. If the cryptocurrency clears the $63,650 resistance zone, it could gain bullish momentum. On the other hand, if it fails to break through, there is support at $62,800 and $61,800, followed by the major support level at $60,500. Technical indicators show that the MACD is losing pace in the bullish zone and the RSI for BTC/USD is above the 50 level.
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