Bitcoin Price Forecast: BTC/USD next critical breakthrough is eyed at $7500

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.

Ken Chigbo Independent Analyst

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

BTC/USD

Overview
Today last price	7271.25
Today Daily Change	69.12
Today Daily Change %	0.96
Today daily open	7202.13

Trends
Daily SMA20	6542.91
Daily SMA50	7480.13
Daily SMA100	8148.19
Daily SMA200	8130.06

Levels
Previous Daily High	7468.81
Previous Daily Low	7075.82
Previous Weekly High	7254.75
Previous Weekly Low	5854.85
Previous Monthly High	9215.51
Previous Monthly Low	3886.49
Daily Fibonacci 38.2%	7225.94
Daily Fibonacci 61.8%	7318.69
Daily Pivot Point S1	7029.03
Daily Pivot Point S2	6855.93
Daily Pivot Point S3	6636.03
Daily Pivot Point R1	7422.02
Daily Pivot Point R2	7641.91
Daily Pivot Point R3	7815.01

Author

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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Bitcoin Price Forecast: BTC/USD next critical breakthrough is eyed at $7500