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Bitcoin Price Analysis: BTC/USD bulls need to hold above $7500 to maintain upside momentum

FX Street

Published date: 24 Apr. 2020 | 16:42

Bitcoin price is trading in negative territory, down 0.50% in the second half of the session.
BTC/USD forced a critical closure above the barrier of $7500.
The bulls will likely be gunning for a wick fill of Thursday’s candle, pressing for $8000.

BTC/USD daily chart

The price was able to force a critical closure above $7500, which will likely be very encouraging for further buyers.

BTC/USD 60-minute chart

Price action has formed an m structure, testing the neckline to the downside.

Spot rate: 7450.25

Relative change: -0.50%

High: 7609.48

Low: 7390.53

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