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Bitcoin technical analysis: BTC/USD critical $7500-800 resistance is being worked by the bulls

  • Bitcoin price is trading in positive territory, up some 3.65% in the second half of the session. 
  • BTC/USD is making a strong push above a large barrier in the way of greater upside at $7500.
  • If the bulls create enough momentum for a breach then the next area of interest seen at $9000. 
Bitcoin technical analysis: BTC/USD critical $7500-800 resistance is being worked by the bulls
Ken ChigboKen ChigboIndependent Analyst

BTC/USD weekly chart

The price is pushing above critical weekly resistance at $7500.

BTC/USD daily chart

Bulls have the momentum with them following a chunky bounce at the big $6000 mark on 25 November. 


 

Spot rate:                  7690.32

Relative change:      2.65%

High:                          7740.20

Low:                           7412.56

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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