TA: Bitcoin Near Make-or-Break Levels, Why 100 SMA Is The Key

Bitcoin started a recovery wave above the $38,400 resistance against the US Dollar. BTC must clear $39,600 to move into a positive zone.Bitcoin managed to stay above $37,650 and started an upside correction.
The price is now trading near $39,200 and the 100 hourly simple moving average.
There is a key bullish trend line forming with support near $39,220 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair must clear the $39,600 resistance to start a decent increase in the ne