Bitcoin price started a fresh increase and cleared the $81,500 zone.

BTC is consolidating and might aim for more gains above the $82,450 level.

Bitcoin managed to stay above $79,200 and started a fresh increase.

The price is trading above $80,750 and the 100 hourly simple moving average.

There is a bullish trend line forming with support at $80,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair might extend gains if it stays above the $80,800 and $80,000 levels.

Bitcoin Price Turns Positive Bitcoin price found support near $79,200 and started a fresh increase .

BTC gained pace for a move above the $79,750 and $80,200 resistance levels.

The bulls even pushed the price above $82,000.

A high was formed at $82,436, and the price started a consolidation phase.

There was a minor decline toward the 23.6% Fib retracement level of the upward move from the $79,168 swing low to the $82,436 high.

Bitcoin is now trading above $80,750 and the 100 hourly simple moving average .

There is also a bullish trend line forming with support at $80,800 on the hourly chart of the BTC/USD pair.

If the price remains stable above $80,500, it could attempt a fresh increase.

Immediate resistance is near the $82,000 level.

The first key resistance is near the $82,450 level.

A close above the $82,450 resistance might send the price further higher.

In the stated case, the price could rise and test the $83,200 resistance.

Any more gains might send the price toward the $84,000 level.

The next barrier for the bulls could be $85,000.

Downside Correction In BTC? If Bitcoin fails to rise above the $82,000 resistance zone, it could start another decline.

Immediate support is near the $80,800 level and the trend line.

The first major support is near the $80,400 level or the 61.8% Fib retracement level of the upward move from the $79,168 swing low to the $82,436 high.

The next support is now near the $79,950 zone.

Any more losses might send the price toward the $79,250 support in the near term.

The main support now sits at $78,500, below which BTC might struggle to recover in the near term.

Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $80,800, followed by $80,000.

Major Resistance Levels – $82,000 and $82,450.