Bitcoin price analysis: BTC/USD stays above $8,000 in the early hours of Saturday
|- BTC/USD is currently priced at $8,030, having started the day at $8,000.
- Bulls need to overcome critical resistance at $8,200.
BTC/USD opened strong in the early hours of Saturday, as its price went up from $8,000 to $8,030. BTC/USD managed to reach $8,115 this Friday before the bears managed to close out the day and took it down to $8,000. The critical resistance level for bulls lies at $8,200, which has thwarted them twice before.
BTC/USD daily chart
- The market found resistance at the upward trending line.
- The price is trending above the 200-day simple moving average (SMA 200), SMA 50, and SMA 20 curves.
- The moving average convergence/divergence (MACD) line is crossing over the signal line, which shows higher bearish momentum.
- The relative strength index (RSI) indicator is trending next to the overbought zone at 67.15.
- The 20-day Bollinger band shows high market volatility.
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