The price of Bitcoin is finding it difficult to increase above $27,400 and $27,500. On the hourly chart of the BTC/USD pair, there was a break above a significant bearish trend line with resistance close to $27,140. The resistance level of $27,400 was breached by the pair, but there was no further increase in price. Near $27,511, a high was created, and the price is now falling. The price of bitcoin is testing the broken trend line at $27,150, trading above $27,000 and the 100 hourly Simple Moving Average.The $27,280 level is the nearest immediate resistance, and the $27,400 level is the next significant resistance. The $27,000 level and the 100 hourly Simple Moving Average provide support, and the $27,000 level is also close to the 50% Fib retracement level of the upward movement from the $26,536 swing low to the $27,511 high.
