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In the past couple of months, we saw Bitcoin rising above the $5,280 mark against the US dollar. The BTC/USD pair gained traction above the $5,300 resistance and settled above the 100 hourly simple moving average. Right now, new Bitcoin gains are possible according to analysts, showing that the price spiked and broke the $5,340 level and is now trading as high as $5,460.

The price of Bitcoin is an everyday topic in the latest cryptocurrency news because of the strong support. Besides, the 50% Fibonacci retracement level of the upward move from the $5,197 swing shows that there is high support. Most importantly, new Bitcoin gains could come because of the two bullish trend lines formed with support near $5,320 and $5,280 on the hourly chart of the BTC/USD pair.

On the downside, there is still support near the $5,280 margin and $5,250. If there are extended losses, the price may retest the $5,200 support level. The 100 hourly SMA is also close to $5,200 to hold losses – but new Bitcoin gains are still possible.

On the upside, a clear break above the $5,360 may open the gates for a major push to the $5,400 level. The next key resistance, in such case, would be near the $5,450 level where sellers may appear. Currently, the news shared on many best cryptocurrency news sites show that the price action is positive and suggest more gains above $5,360.

Looking at the charts, new Bitcoin gains are possible mostly because the Bitcoin price is showing positive signs above $5,280. So, there might be a couple of swing moves in the short run but the price will likely surpass the $5,360 swing high.

The technical indicators are as following:

• Hourly MACD – The MACD is with a slow retracement to the bullish zone, coming along with flat signals – showing that new Bitcoin gains are possible
• Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is right now positioned above the 50 level and is actively testing 60 RSI.
• Major Support Levels – $5,280 to follow after establishing $5,250.
• Major Resistance Levels – $5,360, $5,400 and $5,450.

From all of this, we can conclude that new Bitcoin gains may be on the way and that there is a bullish trend occurring on the market. However, no one could know the timing of this – just like no one could know if the new BTC increase will trigger the altcoin news section on our site by putting the altcoins in the green.