TA: Why Bitcoin Price Could Explode Above $30.6K In Near-term

Bitcoin started a fresh increase from the $28,500 support zone against the US Dollar. BTC could rally if there is a clear move above the $30,600 resistance zone.Bitcoin formed a double bottom pattern near $28,500 and climbed higher.
The price is now trading above the $30,000 level and the 100 hourly simple moving average.
There is a key bullish trend line forming with support near $29,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could gain bullish momentum if the