Bitcoin extends rallyBitcoin / US DollarCOINBASE:BTCUSDFOREXcomBitcoin has just tagged 79K, before easing a little. This is the highest level since January. It has largely been printing bullish price action after being inside a consolidation formation for several weeks. Long-term support levels have held for now and this breaking out means there is now some upside follow thru and therefore a bit of confirmation that this might be a more meaningfully recovery attempt. Let's see if it can now hold the breakout above the key $74K-$75K area. Some overhead resistance levels are approaching, starting with the trend line shown on the chart connecting local highs around $79K. But $80.5K is a more meaningful level should we get there, following by longer-term resistance around $85K. By Fawad Razaqzada, market analyst with FOREX.com