- Bitcoin is trading ever so marginally in red, late in the session Tuesday, after initially starting the day with strong gains.
- BTC/USD bulls early on Tuesday were pressing higher, attempting to breakdown the big barrier of $8000-8500.
Bitcoin is was early on Tuesday enjoying much upside pressure throughout the session on Tuesday. However, much momentum was lost, which was seen across the market, following such an excessive run of gains.
BTC/USD was trading at the highest levels seen since July 2018, as the price remains on course with a strong recovery, which has been observed throughout 2019. Bitcoin at the high of the session was at one point seen up a chunky 155%.
In terms of the key levels to note via the daily confluence detector, to the upside; $7892.07, daily 23.6% Fibonacci, $8376.97, daily pivot point resistance. To the downside; $7649.61, daily 38.2% Fibonacci, $7568.80, weekly and monthly pivot point support.
BTC/USD daily confluence detector
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