BTC faces resistance exactly where the price is. Prices consolidating is a good sign for the long term bulls. The king of digital currencies, Bitcoin, is sitting exactly where it faces tough time to sustain the prices and may find itself going back to where it began from, perhaps towards round-figure mark of $7,000. BTC/USD is trading flat on day at $7,510, after bouncing from the lows of the day of $7,442. The price of BTC is exactly where it hurts the bulls – on the 240-minute chart, there’s a downward sloping trendline which is at $7,500 currently and given the thinly traded weekend, it may not be easy to sustain this trendline. Having said that, long term consolidation visible on the daily chart is a good sign for long term bulls and the more it consolidates above the trendline support, which is placed around $7,000, the better the chances of BTC heading higher in the long term. BTC/USD 240-minute chart: BTC/USD daily 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 Litecoin price analysis: Breakout and support make a great setup for continued run up FX Street 5 years BTC faces resistance exactly where the price is. Prices consolidating is a good sign for the long term bulls. The king of digital currencies, Bitcoin, is sitting exactly where it faces tough time to sustain the prices and may find itself going back to where it began from, perhaps towards round-figure mark of $7,000. BTC/USD is trading flat on day at $7,510, after bouncing from the lows of the day of $7,442. The price of BTC is exactly where it hurts the bulls - on the 240-minute chart, there's a downward sloping trendline which is at $7,500 currently and given… 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.
