BTC/USD technical analysis: Bitcoin finds some support but where will it go now?
|- BTC/USD trades 3.39% higher today after the fall on Wednesday.
- There are a couple of resistance levels to keep an eye on.
After falling to hit a low of 7,296.44 on Wednesday BTC/USD has found some support but is still in a downtrend.
On the upside, a natural resistance is the previous consolidation low of 7,701.00 and price is there as we speak.
Above that, the 8K psychological level is just over the horizon and it is just under the peak of the volume profile volume point of control (VPOC) for that distribution.
Then if the bulls really do manage to take control 9,071.00 is next.
On the downside other than the level that the Bitcoin price just bounced off the next low down is 5,777.00.
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