Bitcoin may have found a temporary price-high, after price spiked sharply higher on Friday, then quickly reversed back towards key support. Price action on the BTCUSD pair appears overstretched, while the MACD indicator across the four-hour time frame is also starting to point lower. BTCUSD sellers need to contain price below the $7,200 support level, while buyers will look to hold the BTCUSD pair above the $ 7,500 level.
The BTCUSD pair is only intraday bearish while trading below the $7,200 level, key technical support below $7,200 level is located at the $7,000 and $6,837 levels.
If the BTCUSD pair continues to trade above the $7,500 level, further upside towards the $7,738 and $8,000 resistance levels seems possible.
The BTCUSD pair is only intraday bearish while trading below the $7,200 level, key technical support below $7,200 level is located at the $7,000 and $6,837 levels.
If the BTCUSD pair continues to trade above the $7,500 level, further upside towards the $7,738 and $8,000 resistance levels seems possible.
