Bitcoin Price Analysis: BTC/USD bulls are looking to rock and roll as price looks comfortable above $7000
|- Bitcoin price was nursing very minor losses in the latter stages of trading on Monday.
- BTC/USD seems to have settled comfortably above the $7000 mark, currently within narrow range, ahead of another potential spike higher.
The Bitcoin price was seen trading very marginally in negative territory on Monday, as the crypto market across the board has softened for the time being. There are bullish indicators for BTC/USD, as the price looks comfortable above $7000 mark.
BTC/USD has gained a whopping 25% since the troublesome lows printed o 14th August, where the price was summoned to levels of around $5900. The price since picked up decent momentum to the upside, moving most recently back above the $7000 mark.
Technically, should the bulls manage to gather enough wind behind them in their charge north, to then breakdown supply seen around the $7300 territory, the price could quickly fly back towards $8000. In case of a fall, support looks firm around $7205, double bottom area seen 2nd and 3rd September, demand looking healthy down to $7140 in the near-term.
BTC/USD 4-hour chart
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