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Bitcoin BTCUSD Under Pressure but Above 8,000


Βitcoin – BTCUSD continues the steady slide ut holds above the 8,000 mark; as of writing BTC gives up 0.79% at $8,060.00. Bitcoin pierced yesterday the 8,000 but managed to rebound back above giving breath to bulls; the attempts to move further higher canceled by strong offers. Bitcoin bulls and bears are positioning around the 8,000 mark for a critical battle that will shape the short term trend of BTC.

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Bitcoin Support and Resistance

Bears are in control of Bitcoin as it hovers below all major daily moving averages. As BTCUSD slips away from the 50-day moving average the first level of support stands at $8,000, in case the BTCUSD breaks below the round figure the next support will be met at $7,774 a level that provided strong support during October.

On the upside, buyers needs to clear the daily high at $8,150.33; in case of a convincing break above the daily top an attempt targeting the 50-day moving average at $8,557.10 might follow; Next supply zone stands at 9,050.

Bitcoin capitalization has dropped now to 145.97 billion, the market capitalization of the top 100 cryptocurrencies is down to 221.88 billion.More content