Bitcoin Price Prediction: BTC/USD bulls extend further north with $8000 and beyond in sight – Confluence Detector

Bitcoin is holding chunky gains of over 12% late in the session on Monday.
BTC/USD bulls are pressing further higher, as they head for the big barrier of $8000-500 range.

Ken Chigbo Independent Analyst

Bitcoin is enjoying much upside pressure throughout the session on Monday. BTC bulls have been outperforming versus many of its peers, as it looks to make a clear breakaway against other major altcoins.

BTC/USD is trading at the highest levels seen since July 2018, as the price remains on course with a strong recovery, which has been observed throughout 2019. Bitcoin has managed to recover some 130%.

In terms of the key levels to note via the daily confluence detector, to the upside; $8073.72, daily pivot point resistance, $8236.98, daily pivot point resistance. To the downside; $7500.48, daily and monthly pivot point support, $7336.81, daily 61.8% Fibonacci.

BTC/USD daily confluence detector

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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