Bitcoin Price Spikes 5%, Can BTC Bulls Take Back Control?

Bitcoin price is up nearly 5% and there was a move above $62,500. BTC is now testing the $63,500 resistance zone with a positive angle.Bitcoin started a decent increase above the $62,200 and $62,400 levels.
The price is trading above $62,500 and the 100 hourly Simple moving average.
There was a break above a major bearish trend line with resistance at $61,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair might struggle to continue higher above the $63,650 resistance z