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  • BTC/USD bulls push on the next resistance created by $7,500.
  • Important support at $7,000 is reinforced by  23.6% Fibo retracement weekly.

Bitcoin (BTC) extended the recovery and hit $7,468 on Tuesday. At the time of writing, the first digital asset is changing hands at $7,350, while crypto bulls set their eyes at $7,500, which is the next critical resistance reinforced by daily SMA50. Bitcoin’s market value reached $135 million, which is 64.2% of the total market capitalization.

Bitcoin confluence levels

There are a lot of strong technical barriers clustered below the current price. It means, Bitcoin is well-positioned for further recovery. On the downside, a cluster of support levels will slow down the retreat and create necessary technical conditions for the next bullish wave.

Resistance levels

$7,500 – Pivot Point 1-day Resistance 1, daily SMA50

$8,000 – Pivot Point 1-week Resistance 2

$8,200- daily SMA100, daily SMA200, Pivot Point 1-week Resistance 3

Support levels

$7,200 – 38.2% Fibo retracement daily, 4-hour SMA10,  the lower line of 1-hour Bollinger Band

$6,950 – 23.6% Fibo retracement weekly, 1-hour SMA100 4-hour

$6,500 – SMA10 daily

BTC/USD, 1-day

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