Bitcoin refreshes $7,400 following the sharp dive below $8,000. Recovery to $9,000 will not come easy owing to the numerous hurdles including $7,673 and $7,909. Bitcoin was the biggest loser in the sharp declines witnessed across the board on Thursday. After breaking down $8,000 support, the price spiraled targeting $7,000. However, $7,400 stood as a strong support area with high buyer congestion. Bitcoin has since made a shallow recovery above $7,500 but $7,600 remains unconquered. The prevailing trend is strongly bearish with Bitcoin having corrected lower 0.94% to exchange hands at $7,540. As the volatility expands, selling pressure is also increasing across the board. Luckily Bitcoin is sitting above several key support areas including $7,516 and $7,358. The first support is home to the Bollinger Band 1-hour lower curve and the pivot pint one-month support one. The indicators at $7,358 are the previous month low and the pivot point one-day support one. As far as recovery is concerned, the journey to $9,000 will be a bumpy one. However, the most prominent resistance is placed at $8,537. Between the current price at $7,540 and $8,537 exists other medium-strong resistance zones at $7,673, $7,909 and $8,223. More confluence levels 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 GBP Futures: scope for a correction lower FX Street 3 years Bitcoin refreshes $7,400 following the sharp dive below $8,000. Recovery to $9,000 will not come easy owing to the numerous hurdles including $7,673 and $7,909. Bitcoin was the biggest loser in the sharp declines witnessed across the board on Thursday. After breaking down $8,000 support, the price spiraled targeting $7,000. However, $7,400 stood as a strong support area with high buyer congestion. Bitcoin has since made a shallow recovery above $7,500 but $7,600 remains unconquered. The prevailing trend is strongly bearish with Bitcoin having corrected lower 0.94% to exchange hands at $7,540. As the volatility expands, selling pressure is also… 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.
