Bitcoin Price Watch: BTC/USD’s Bullish Scenario

Key PointsBitcoin price moved higher and broke the $8,300 resistance level against the US Dollar.
There is a significant ascending channel formed with support at $8,400 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair is likely to accelerate gains above $8,650 if it continues to follow the ascending channel.Bitcoin price is trading with a positive bias above $8,400 against the US Dollar. BTC/USD could extend the current move above the $8.650 and $8,800 resistance levels.