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Bitcoin Price Analysis: BTC/USD flirting with the critical $7000 mark which is trend defining

  • Bitcoin price is trading in positive territory, up 0.75% in the second half of the session. 
  • BTC/USD moving within consolidation sitting just above the big $7000 price mark.
  • The next price breakout is critical for the Bitcoin trend moving forwards.

BTC/USD weekly chart

The price managed to close the week again in the green, marking the fifth consecutive one.

BTC/USD daily chart

A narrowing in the daily price action has been viewable for the last four sessions, with a breakout likely to be explosive. 

Spot rate:                6984.45

Relative change:     -1.95%

High:                       7223.22

Low:                        6917.61

 

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