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  • Bitcoin continues to hold above 7K and a chart pattern has emerged.
  • The price is holding at a support zone and 7,400 seems to be the resistance to beat.


Below is the hourly BTC/USD chart and it seems price has consolidated around the 7K level.

There are also some key levels to keep an eye on that could indicate future direction.

On the topside, a break of 7,400 would indicate the bulls might be able to take control.

In terms of support, 6,600 is now the key support zone with not too much support under there.

The indicators are also looking like they could potentially turn higher and the MACD MA’s are above the zero line which is bullish.

Now with the MACD the histogram just has to move higher.

Lastly, in blue there is a flag formation which could also indicate the future movement of price, but this depends on which side it breaks.

Bitcoin Analysis

Additional Levels