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2021-04-03

BitcoinNewsToday–HeadlinesforDecember31

Bitcoinfindsstrongsupportatthe$7,150mark

CanBitcoinendtheyearoverthe$7,500level?

BitcoinNewsToday–ThepriceofBitcoin(BTC)isshowingsignsofareneweduptrend**ainsttheUSD.Bitcoiniscurrentlytradingslightlybelowthe$7,300mark.However,forthedigitalcurrencytoprepareforanotherpushtowardsthe$7,500mark,itneedstoremainoverthe$7,150supportlevel.

Bitcoin(BTC)recentlyformedanewweeklyhighcloseto$7,531.Sincethen,ithasbeenonadownwardcorrection**ainsttheUSdollar.Thepriceofthedigitalcurrencyplungedbelowthe$7,400and$7,300supportlevels.Besides,therewasalsoaclosebelowthe$7,300andthe100-hourlysimplemovingaver**e.

Finally,thedigitalcurrencyplungedbelowthe$7,200supportareabutthebullswereabletoholdgainsoverthe$7,150mark.BTCformedalowcloseto$7,179anditiscurrentlyconsolidatinglossesoverthe$7,200mark.Theimmediateresistanceofthecoinisclosetothe$7,240mark.

Moreover,therewasaformationofakeybearishtrendlinewithresistanceclosetothe$7,240markonthehourlychartofBTC**ainstUSD.Thenextresistanceofthedigitalcurrencyisclosetothe23.6percentFibonacciretracementlevelofthepreviousswingfromthehighof$7,531tothelowof$7,179.Nevertheless,thefirstmajorresistanceisclosetothe$7,300levelandthe100-hourlysimplemovingaver**e.

IfBitcoinbreaksoverthe$7,300resistancelevelsuccessfully,itmightexperienceamassivepushtowardsthe$7,400hurdlepoint.Anintermediatehurdlepointcouldbe$7,355orthe50percentFibonacciretracementlevelofthepreviousswingfromthehighof$7,531tothelowof$7,179.

CanBitcoinEndtheYearoverthe$7,500Mark?

Afollow-throughoverthe$7,400hurdlepointmightpavethewayforalargerupwardmovetowardsthe$7,500and$7,600hurdlepoints.Abreakoverthoselevelsmightsetthetoneformoregainstowardsthe$8klevelandbeyond.Conversely,Bitcoin(BTC)mighthaveahardtimebreakingoverthe$7,300resistancelevelandthe100hourlysimplemovingaver**e.

IfBTCcontinuestostrugglebelow$7,300,chancesareitmightbreakbelowthe$7,200and$7,150supportareas.However,fromthechartofthecoin,thepriceofBTCseemstobegettingreadyforanupsidebreakoverthe$7,240and$7,300resistancelevel.Ifthedigitalcurrencybreaksoverthe$7,300level,itissuretoheadtowardsthe$7,400and$7,500levels.Atpresstime,theimmediateresistanceofthecoinisatthe$7,200mark,followedby$7,150.

PrincessOgonoisawriter,lawyerandfitnessenthusiast.Shebelievescryptocurrenciesarethefuture.Whenshe'snotwriting,shespendstimewithheradorablecat,Gingerandworksoutoften.