Bitcoin price prediction: Do or die point reached

Today first attempt to move higher has been quickly rejected.
The challenge seems difficult at this hour, but a worsening of the situation in the Middle East may end up breaking the resistance.
Bitcoin’s gains extend to the rest of the crypto market.

Tomas Salles FXStreet

As the session begins in the US equity markets, BTC/USD is approaching the key level of $7,361.

A break of this level – indicated by a long term downward trend line – would open the possibility of a deep-felt change in the tone of the crypto market.

Bitcoin, as the leader in market capitalization and trading volume, leads the cryptocurrency market. These price levels may not be seen again for a long time.

BTC/USD will maintain an active bullish tone as long as it holds above $7200.

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Author

Tomas Salles

FXStreet

Tomàs Sallés was born in Barcelona in 1972, he is a certified technical analyst after having completing specialized courses in Spain and Switzerland.

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