BTC/USD technical analysis: Bitcoin buyers taking a breather below the 8,400.00 mark

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BTC/USD daily chart

Bitcoin (BTC/USD) is on the rise above its main simple moving averages (SMAs). The main resistances to the upside are seen at 8,750.00; 9,375.00 and the 10,000.00 level. On the way down support is seen at 7,500.00; 6,875.00; 6,250.00 and the 5,000.00 level.

BTC/USD 4-hour chart 

BTC/USD is consolidating below the 8,400.00 mark. The market might take a breather before another potential leg up. BTC/USD can retrace towards 7,500.00 and 6,875.00 level in the medium term. 

Additional key levels

 

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