Bitcoin Grinds Higher, Here’s Why Dips Turned Attractive

Bitcoin price started a steady increase above the $36,000 resistance against the US Dollar. BTC even broke $37,000 and it is now showing positive signs.

Bitcoin gained bullish momentum above the $35,000 and $36,000 resistance levels.
The price is currently trading well above $36,000 and the 100 hourly simple moving average.
There was a break above a major bearish trend line with resistance near $36,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could correct lower, but the bulls are likely to remain active near $36,000.

Bitcoin Price Gains Pace
Bitcoin formed a base above the $34,000 zone and it started a steady increase. BTC broke the $35,000 and $36,000 resistance levels to move into a positive zone.
There was a break above a major bearish trend line with resistance near $36,000 on the hourly chart of the BTC/USD pair. The pair climbed above the 50% Fib retracement level of the key decline from the $40,420 swing high to $33,630 low.
The price even broke the $37,000 resistance zone. However, the bears are fighting near the $38,000 level. It seems like the 61.8% Fib retracement level of the key decline from the $40,420 swing high to $33,630 low is acting as a resistance.

Source: BTCUSD on TradingView.com
On the upside, an immediate resistance is near the $37,500 level. The first major resistance is near the $38,000 level and the recent high. A clear break above the $38,000 zone could set the pace for a larger increase. The next major resistance is near the $40,000 level. An intermediate resistance could be near the $38,800 level.
Dips Supported in BTC?
If bitcoin fails to clear the $38,000 resistance, it could correct lower. An initial support on the downside is near the $36,500 level.
The first major support is near the $36,000 level and the 100 hourly simple moving average. If there is a downside break below the $36,000 support, the price could decline towards the $35,200 support zone in the coming sessions. Any more losses could clear the path for a retest of the $34,000 level.
Technical indicators:
Hourly MACD – The MACD is slowly losing pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is sliding towards the 50 level.
Major Support Levels – $36,000, followed by $35,500.
Major Resistance Levels – $37,500, $38,000 and $40,000.

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bitcoin
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ethereum
Ethereum (ETH) $ 1,860.84
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.29
bnb
BNB (BNB) $ 581.77
solana
Solana (SOL) $ 123.04
usd-coin
USDC (USDC) $ 1.00
cardano
Cardano (ADA) $ 0.706574
dogecoin
Dogecoin (DOGE) $ 0.165360
tron
TRON (TRX) $ 0.225041
staked-ether
Lido Staked Ether (STETH) $ 1,861.07
lombard-staked-btc
Lombard Staked BTC (LBTC) $ 82,872.20
pi-network
Pi Network (PI) $ 1.63
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 80,776.64
leo-token
LEO Token (LEO) $ 9.71
stellar
Stellar (XLM) $ 0.277603
chainlink
Chainlink (LINK) $ 12.92
usds
USDS (USDS) $ 1.00
hedera-hashgraph
Hedera (HBAR) $ 0.189641
wrapped-steth
Wrapped stETH (WSTETH) $ 2,234.75
avalanche-2
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shiba-inu
Shiba Inu (SHIB) $ 0.000012
sui
Sui (SUI) $ 2.18
the-open-network
Toncoin (TON) $ 2.73
litecoin
Litecoin (LTC) $ 87.73
bitcoin-cash
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mantra-dao
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polkadot
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ethena-usde
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weth
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binance-bridged-usdt-bnb-smart-chain
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bitget-token
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hyperliquid
Hyperliquid (HYPE) $ 12.27
whitebit
WhiteBIT Coin (WBT) $ 28.26
monero
Monero (XMR) $ 206.14
wrapped-eeth
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uniswap
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susds
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dai
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aptos
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near
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pepe
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ethereum-classic
Ethereum Classic (ETC) $ 17.76
ondo-finance
Ondo (ONDO) $ 0.834080
internet-computer
Internet Computer (ICP) $ 5.37
aave
Aave (AAVE) $ 167.94
okb
OKB (OKB) $ 41.39
gatechain-token
Gate (GT) $ 20.19
mantle
Mantle (MNT) $ 0.732691
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 80,828.66