A swing low was formed near $10,463 and the price started a fresh increase. It broke the $10,600 resistance to move back into a positive zone.
The price is now testing the $10,800 resistance area.
If there is an upside break above the $10,800 and $10,880 levels, the price could continue to rise. In the mentioned case, the price will most likely break the $11,000 resistance level.
Conversely, if the price fails to break the $10,800 and $10,880 resistance levels, it could correct lower. An immediate support is near the $10,650 level. Additionally, there is a new bullish trend line forming with support near $10,600 on the same chart. Below the trend line, the price could revisit the $10,500 support area in the near term.
Looking at the chart, bitcoin price is clearly gaining momentum above $10,700 and it will most likely break the $10,800 and $10,880 resistance levels. Finally, if there is a break above $11,000, the price could test $11,250.