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.

Don’t miss a beat! Follow us on Telegram and Twitter.

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