Cracking $7.4K Opens Path to $8.1K Resistance — Analyst

Bitcoin (BTC) stayed rangebound on Dec. 2 after a descent from near $8,000 over the weekend failed to crack the $7,000 support.

Cryptocurrency market daily overview. Source: Coin360

Bitcoin volatility lessens but $7.5K evades traders

Data from Coin360 showed the largest cryptocurrency trading in a narrower $300 corridor as the week began, with 24-hour performance bottoming out at around $7,180.

At the top of the range, BTC/USD nonetheless failed to retake $7,500, at press time fluctuating around $7,300.

Bitcoin seven-day price chart. Source: Coin360

The reduction in volatility soothed analysts, who were able to predict potential short-term moves for Bitcoin with a greater degree of certainty on Monday.

For regular Cointelegraph contributor Michaël van de Poppe, upside potential now focused on breaking $7,400, which could then form a gateway to higher resistance at $8,100.

Highlighting the current price point on a fresh chart on Monday, he added that a failure to maintain it would result…