TA: Bitcoin Price Reclaims $20K, Why This Could Be The Start of Larger Rally

Bitcoin price gained pace for a move above $20,000 against the US Dollar. BTC is showing positive signs and might rise further above $20,500.

• Bitcoin started a steady increase above the $19,200 and $19,500 resistance levels.
• The price is trading above $20,000 and the 100 hourly simple moving average.
• There is a connecting bullish trend line forming with support near $20,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair is gaining pace and might rally further above the $20,500 level.

Bitcoin Price Gains Pace

Bitcoin price formed a base above the $19,000 level and started a steady increase. BTC was a