- Skrill launches Bitcoin-to-crypto conversions to ease the process of buying altcoins.
- Bitcoin surge above $7,500 brings back the hope of recovery above $8,000.
The resistances at $7,200 and $7,400 finally caved in allowing Bitcoin to resurface above $7,500. Besides, the immense buying activity pushed past $7,600. Although the breakout had $8,000 within sight, the momentum died down short of $7,700.
The prevailing trend is bearish and the market feature low volatility. Bitcoin has shed off 0.36% of its value on the day after opening the trading at $7,525 and adjusted to the current market value of $7,500.
As reported Paysafe Group’s Skrill Cryptocurrency Service platform has launched a new feature that allows users to convert Bitcoin directly to other supported cryptocurrencies. Previously, users were forced to covert the BTC to fiat before going ahead to buy other digital assets. The support is expected to be extended to other crypto pairs in the near future.
Bitcoin confluence levels
The confluence tool shows Bitcoin grinding into the resistance at $7,555 (seller congestion area). The zone marks the only significant resistance heading to $8,000. It is home to the SMA 50 15-minutes, SMA five 15-mins, SMA ten 15-mins, SMA five 1-hour, the Bollinger 15-mins middle curve and the previous high 15-mins. At a broader perspective, more resistance is observed at $7,633, connecting the Bollinger Band 4-hour upper and the Bollinger Band 15-mins upper curve. $7,946 as highlighted by the Fibo 61.8% one-week will be the last bump before $8,000.
On the downside, unlike yesterday, support has been established at $7,477 indicated by the pivot point one-month support. Other support areas include $7,320, $7,242 and $6,851.
More confluence levels
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