Bitcoin’s price surged past the coveted $62,000 mark, indicating a robust bullish posture in the cryptocurrency arena. The digital currency is now experiencing a period of consolidation, biding its time as it gears up for a potential assault on the $64,000 resistance barrier.

Previously, Bitcoin was weathering resistance below the $60,000 apex. However, its trajectory forges ahead, with the price firmly positioned above $60,500 and comfortably supported by the 100 hourly Simple Moving Average. A suggestive bullish trend line has emerged, underpinning the prices with support at $60,950 on the hourly charts of the BTC/USD pair, according to data acquired from Kraken.