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Bitcoin Price Analysis: BTC/USD bulls eke out an advantage as price hugs along the 20-day Bollinger Band upper curve

FX Street
Published date:
  • MACD and the Elliott Oscillator both show increasing bullish sentiment.
  • The bulls must aim to take the price above the $7,960 for it to trend above the SMA 200.

BTC/USD daily chart

BTC/USD daily chart

BTC/USD managed to chart a seventh straight bullish as the price went up slightly from $7,704.33 to $7,753.68 this Monday. The price is currently encountering resistance at the upper curve of the 20-day Bollinger Band. To continue the upward movement, the bulls will need to aim for the $7,960-level to break above the SMA 200 curve. Following that, the bulls must overcome resistance at $8,190.80 to continue the upward momentum. Both the MACD and the Elliott Oscillator indicate increasing bullish market sentiment.

Key levels

 

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