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Bitcoin Technical Analysis: BTC/USD bulls making push to break down chunky barrier at $7500

  • Bitcoin price is trading in the green, up some 2.50% in the second half of the session. 
  • BTC/USD bulls are maintaining momentum to the upside, running at four consecutive days in the green. 
  • A break down of the barrier seen at $7500, could open the door to greater buying pressure. 
Bitcoin Technical Analysis: BTC/USD bulls making push to break down chunky barrier at $7500
Ken ChigboKen ChigboIndependent Analyst

BTC/USD weekly chart

Bitcoin managed to force another closure in the green for the week, running towards its fourth consecutive. 

BTC/USD daily chart

Bulls are tackling the $7500 barrier, which has proven to contain the price since the back-end of November. A break above could prove to be critical for further bull momentum.

Spot rate:                  7560.72

Relative change:     +2.50%

High:                         7578.59

Low:                          7342.68

Author

Ken Chigbo

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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