Bitcoin price analysis: BTC/USD keeping close to $7,000; April Fool's day fake news did no harm
- Crypto traders didn't buy into April Fool's day jokes.
- Bitcoin stays below $7,000 amid lingering uncertainty.
Bitcoin has recovered from Sunday's low at $6,442 to trade at $6,900. The recent attempts to settle above $7,000 threshold proved to be futile as of yet, but the bulls keep trying.
The weekend was pretty quiet for the cryptocurrency universe, except for a series of jokes and fake news related to the April Fool's day. Thus, Coinmarketcap, the popular resource of statistical information about digital coins, added Lambo currency reference for the listed assets to show their value in Lambos.
Finance Magnates posted an "Exclusive" material on Facebook launching initial coin offering. The social platform would advertise its own ICO despite the ban, while the potential investors would need to supply a lot of personal details, including name, address, mother's maiden name and the name of the first pet.
Bitcoin price technical picture
BTC managed to pass through the short-term resistance is placed at $6,900 (50-SMA. hourly interval), but the overall sentiments remain bearish as long as the price stays below $7,000, strengthened by 100-SMA (hourly interval) at $7,050. Once this area is cleared, the upside may be extended towards the ultimate resistance $7,500, created by the upper line of downward Andrew's pitchfork. On the downside, the move below $6,900 may increase selling pressure and send the coin towards Sunday's low at $6,442.
BTC/USD, the hourly chart
Author
Tanya Abrosimova
Independent Analyst
