Bitcoin price makes a comeback under $8,000 after hitting a snag at $8,050. The retreat is likely to find support at $7,800 if $7,900 also gives in to the bearish pressure. Bitcoin’s struggle to stay above $8,000 failed to yield as the price dipped towards $7,900. The entire crypto market is bleeding with the majority of the major cryptocurrencies recording losses at the beginning of the European session on Wednesday. The largest cryptocurrency in the world opened the day’s trading at $8,023. A short-lived upward leg hit an intraday high of $8,049. The bearish action that followed the failed attempt to break the resistance at $8,050 refreshed levels towards $7,900 whereby Bitcoin formed a low at $7,937. Meanwhile, the price is teetering at $7,961 and is below a short-term ascending trendline support. All indicators including the Relative Strength Index (RSI) show that the trend is in the hands of the bears. The RSI has dived into the oversold while the Moving Average Convergence Divergence (MACD) is below the zero line. The bearish cross seen with the MACD emphasis on the developing negative momentum. BTC/USD one-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next EUR/USD: Back below 100-day MA, focus on German yields FX Street 3 years Bitcoin price makes a comeback under $8,000 after hitting a snag at $8,050. The retreat is likely to find support at $7,800 if $7,900 also gives in to the bearish pressure. Bitcoin's struggle to stay above $8,000 failed to yield as the price dipped towards $7,900. The entire crypto market is bleeding with the majority of the major cryptocurrencies recording losses at the beginning of the European session on Wednesday. The largest cryptocurrency in the world opened the day's trading at $8,023. A short-lived upward leg hit an intraday high of $8,049. The bearish action that followed the failed attempt… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
