Bitcoin Price Analysis: BTC/USD bulls must capitalize above $7000 or risk another steep drop
|- Bitcoin price is trading in negative territory, down 3.05% in the second half of the session.
- BTC/USD moving within consolidation flirting with the big $7000 price mark.
- The next price development is critical for the Bitcoin trend moving forwards.
BTC/USD daily chart
The bulls are making an attempt to break above the psychological $7000 price mark, however, supply remains heavy around this area. A retest of a breached daily flag was seen in the prior session.
BTC/USD 60-minute chart
The bulls are struggling to break down a zone of resistance, which is seen running from $7000-$7200.
Spot rate: 7035.40
Relative change: -1.10%
High: 7152.93
Low: 6998.92
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