- BTC nearing a resistance.
- Support nearby to help the bounce.
Bitcoin, the poster boy of cryptocurrencies, suprised the skeptics in the last few days by bouncing from the troughs to reach beyond $8,000 and now is near the resistance level that might cut short its ongoing price rally.
BTC/USD is up about 0.3 percent at $8,205 and on the weekend trading in a narrow band of close to one percent. After rallying hard in the last few days, BTC has reached a resistance on the 120-minute chart that might curtail its ongoing price rally.
Solace for the bulls is that it may not fall too much from here as there's a medium term support at rescue around $8,000. So range for now for BTC could be placed at $8,000 - $8,250.
BTC/USD 120-minute chart:
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks

Solana tops $185 as SOL pairs dominate private DEXs and meme coin trading
Solana's (SOL) price is nursing minor losses, down almost 2% to trade at $180 at the time of writing on Wednesday. Over the past weeks, the meteoric rise changed the trend from bearish to bullish, reflecting strong risk-on sentiment in the broader crypto market.

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC eyes $105K breakout, ETH holds key support, XRP targets $3
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) continue to show strength as the broader crypto market sustains its bullish momentum. BTC is testing a critical resistance level that could mark a fresh push toward record highs while ETH remains supported by a key level, signaling potential for upward continuation.

Crypto Today: BTC rekindles all-time high prospect as SOL, ETH and DOGE lead $3.5 trillion recovery
The global crypto market capitalization rose by another 2% on Tuesday, retaking the $3.5 market cap milestone after a brief dip towards $3.2 trillion on Monday. In terms of key bullish catalysts, vital figures in the US CPI data released have raised expectations of imminent Fed rate cuts.

Why is the crypto market up today? Weak CPI boosts market confidence
Bitcoin (BTC) saw a 1.4% uptick on Tuesday — reclaiming $104,000 — and Ethereum (ETH) gained 9% after the US Consumer Price Index (CPI) for April came in at 2.3%, below market expectations of 2.4%.

Bitcoin: BTC bulls aim for $105,000 after nearly 10% weekly gains
Bitcoin price stabilizes around $103,000 on Friday after rallying nearly 10% this week. Risk-on sentiment prevails as Trump announced a trade deal with the UK and ahead of the meeting with China this weekend.