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Bitcoin Price Analysis: BTC/USD must break and hold above $8000 for greater bull action

  • Bitcoin price is trading in positive territory, up 6.80% in the second half of the session. 
  • BTC/USD bulls are enjoying a consecutive run to the upside, smashing key barriers; $7000 and $7500. 
  • A break back above $8000 has restored much buyer confidence. 
Bitcoin Price Analysis: BTC/USD must break and hold above $8000 for greater bull action
Ken ChigboKen ChigboIndependent Analyst

BTC/USD daily chart

A consistent run of gains is being observed by the bulls, with $8000 providing the gateway to greater gains, with $10,000 in sight. 

BTC/USD 60-minute chart

A strong wave of momentum has been seen thanks to a narrowing 60-minute range break. 

Spot rate:                8304.50

Relative change:     +6.80%

High:                       8350.30

Low:                        7721.43

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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