Imminent Bitcoin Breakout

Over the past weekend, bitcoin formed a decent support base at $32K and gained momentum above the $33.5K resistance zone. The price even broke above $34,000 to move into a positive zone, giving traders hope that a breakout was imminent. The BTCUSD pair formed a high near $34,600, but the bulls failed to gain more traction above this level. The largest cryptocurrency by market cap has now reversed much of the weekend gains after closing below a key moving average.…