RATE Group | BTC/USD faces one prominent resistance in the journey to $8,000
71761
post-template-default,single,single-post,postid-71761,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

BTC/USD faces one prominent resistance in the journey to $8,000

12 Dec BTC/USD faces one prominent resistance in the journey to $8,000

Posted at 07:15h in Bitcoin News by

[ad_1]

  • Bitcoin recovers slightly after testing $7050 support.
  • The risk of dropping towards $6,000 has increased massively after Bitcoin slashed $7,200 support.

Bitcoin approached the support at $7,000 in a renewed downward momentum. The support expected at $7,200 failed to hold once again. However, a shallow recovery has pulled BTC above $7,100 and is dancing at $7,1450.

The cryptocurrency live rates show Bitcoin trading 0.72% lower on the day. The current trend is strongly bearish but volatility levels have remained low.

Bitcoin confluence levels

fxsoriginal

The confluence tool places the initial resistance at $7,189 as highlighted by the Bollinger Band 15-minutes middle, SMA 10 15-mins, previous high 15-mins, previous high 1-hour, Fibonacci 23.6% one-day, SMA ten 1-hour and the pivot point one-week support one among other indicators.

If the bulls manage to reclaim the lost ground above $7,200, further movement north will face a medium-strong resistance at $7,263. The…

[ad_2]

Source link

Tags:
, , , , ,