Bitcoin price analysis: BTC/USD stays below $7,500, as Apple's co-founder Steve Wozniak express belief in Bitcoin

Bitcoin is back below short-term pivotal levels.
wants Bitcoin to become global currency.

Tanya Abrosimova Independent Analyst

Bitcoin is trading a $7,7454, off the intraday low registered at $7,374. The most popular digital coin is back below ciritcal $7,500 as a recovery attempt proved to be short-lived. The coin is mostly unchanged since the start of the day, and down 2% since this time yesterday.

Apple's co-founder Steve Wozniak happens to be a Bitcoin believer. Speaking to CNBC, he expressed hope that this digital coin would eventually become a single global currency.

"I buy into what Jack Dorsey says, not that I necessarily believe it's going to happen, but because I want it to be that way, that is so pure thinking," Wozniak said on Monday.

Recently he sold all but one Bitcoin, saying that he had no intention to invest in digital currency. His primary aim was to experiment with the technology. He also owns two Ethereum coins.

Bitcoin's technical picture

Bitcoin dropped below 200-SMA (hourly chart) at $7,472, which now serves as a local resistance level. Once it is broken, the recovery may be extended towards $7.573 (100-SMA) and major barrier created by the upside trendline at $7,650. On the downside, the support comes at $7,400 and followed by $7,100 (April 29 low).

BTC/USD, the hourly chart

Author

Tanya Abrosimova

Independent Analyst

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