- Bitcoin briefly conquers $8,000 as bulls come out of hibernation.
- Technical remain positive; suggestion continued movement north.
Bitcoin has revamped the trend to start the week not only in the green but around $8,000 critical level. The support established at $7,500 has been key to the recovery as Bitcoin bulls focus on the higher levels towards $10,000.
While Bitcoin has touched $8,000, the price is dancing with $7,960 at press time following a minor correction. The 15-minutes chart shows Bitcoin still in a bullish phase suggesting the continuation of the trend above $8,000 in the short-term.
A glance at the technical indicators like the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) suggests that Bitcoin much-awaited surge is finally here.
The price is also trading above the moving averages as seen on the chart. It is vital that the price jumps and establish support above $8,000 to allow for a correction to the next resistance level at $8,200.
BTC/USD 15′ chart
Share
