- Robinhood to give cryptocurrency exchanges in the US a run for their money.
- Bitcoin price must push above the resistance level at $7,400 to open the door for more gains towards $7,500.
Bitcoin price is has broken from trading in a range between $6,812 and $7,062 on Tuesday. The price is signalling a bullish trend above the pivotal $7,000 with the current resistance at $7,400. Bitcoin price is up 3.49% in the last 24 hours as the price is struggling to break new levels this week after the bearish momentum recorded last week.
In other news, the commission-free Robinhood cryptocurrency trading platform for Bitcoin and Ethereum has today expanded its services to four more US states. The said states include Missouri, Montana, Massachusetts as well as California. The announcement was made via a tweet by the exchange platform to its followers. Robinhood's commission-free trading beats the 1.5% to 4% commission charged by cryptocurrency exchanges in the United States. Similarly, it is expected to give the crypto exchange platforms in the US a run for their money in the coming months.
Bitcoin price technical analysis
Bitcoin price has been correcting higher in the past couple of days trading higher highs and higher lows. Unlike the up and down trading witnessed during the session yesterday, BTC/USD has sustained above $7,000 level in today’s session. At the moment, Bitcoin price is exchanging hands above the 100 Simple Moving Average. Consequently, the longer-term 200 Simple Moving Average has recently crossed above the 100 SMA to show that Bitcoin price will consolidate above $7,000 in the near-term. The price must push above the resistance level at $7,400 to open the door for more gains towards $7,500. On the downside, the short-term support for Bitcoin is at $7,018 while the major support is still at $6,450.
BTC/USD intraday 30’ chart
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