Ken Chigbo
Independent Analyst
- Bitcoin price is trading in positive territory, up 1.05% in the second half of the session.
- BTC/USD is being capped for the time being by a barrier at $7500.
- The price has been consolidating near-term, following the critical $7000 breakthrough.
BTC/USD daily chart
The next major daily barrier should be noted at $7500, a breakdown here can open the door to a fresh wave of buying momentum.
BTC/USD 60-minute chart
60-minute supply runs from $7400-7500 price range, capping further upside. A near-term ‘m’ structure is observed via the hourly chart view.
Spot rate: 7413.20
Relative change: +1.05%
High: 7426.72
Low: 7154.70
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