After a successful close above the $13,800 resistance, bitcoin price started a steady increase. BTC broke the main $14,000 resistance level and settled nicely above the 100 hourly simple moving average.
The price cleared the $14,200 zone and traded to a new 2020 high at $14,338. It is currently following bullish path and showing a lot of positive signs above the $14,000 level. If there is a downside correction, an initial support is near the $14,150 level.
The 23.6% Fib retracement level of the recent rise from the $13,545 swing low to $14,388 high is also near $14,150. It seems like there is a rising channel forming with support near $13,950 on the hourly chart of the BTC/USD pair.