Bitcoin Price Analysis: BTC/USD weekend action brushes shoulders with $7,600

Bitcoin held above $7,500 as sideways trading comes into play.
A break above $7,600 is needed for Bitcoin bulls to shift focus to $8,000.

John Isige FXStreet

Cryptocurrencies stagnated within familiar levels over the weekend. However, Bitcoin action impressively jumped above the resistance levels at $7,400 and $7,500 respectively. The upward leg jumped above $7,600 before forming a high at $7,638.

Meanwhile, a retreat from the recent highs is holding Bitcoin above $7,500. The stability above $7,500 is proving to be viable especially with support from the 100 SMA on the 1-hour chart and the trendline support.

The immediate upside is limited by the 50 SMA while $7,600 is the next hurdle that must come down for BTC to correct towards $8,000. The RSI is lethargic at $50 and the sideways movement suggests that Bitcoin could range above $7,600 a while longer.

BTC/USD 1-hour chart

Author

John Isige

FXStreet

John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

Ethereum Price Forecast: EF outlines ways to solve growing state issues

Ethereum price today: $2,920. The EF noted that Ethereum's growing state could lead to centralization and weaken censorship resistance. The Stateless Consensus team outlined state expiry, state archive and partial statelessness as potential solutions to the growing state load.

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH and XRP correction slide as BoJ rate decision weighs on sentiment

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are extending their correction phases after losing nearly 3%, 8%, and 10%, respectively, through Friday.