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TA: Bitcoin Breaks $50K, Why BTC Could Continue To Gain Momentum

 Bitcoin price started a steady increase and it surpassed $50,000 against the US Dollar. BTC is likely to remain well bid and it might even clear $50,300


Bitcoin started a decent increase above the $48,000 and $48,500 resistance levels.

The price is now trading above $48,000 and the 100 hourly simple moving average.

There is a major bullish trend line forming with support near $49,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair could accelerate further higher if it clears the $50,500 resistance zone in the near term.

Bitcoin Price Gains Strength

Bitcoin price remained well bid above the $46,000 support zone. BTC formed a base above $46,000 and it started a fresh increase. There was a clear break above the $48,000 resistance zone and the 100 hourly simple

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