Bitcoin price has been shrunk by 1.19% over the last 24 hours. Despite market-wide pressure, the coin has managed to trade above $7000 mark and as per the current momentum, it may further gain in the short-term.

In the last week, after registering a huge spike on April 16, BTC managed to trade above $7000 mark and continued to trade with upside momentum.

BTC/USD Forecast

Bitcoin (BTC) News

Yesterday, Bitcoin started trading from $7274.94, and in the first 6 hours, the price was tapered off by 2.18% and fell to $7116.48. From this, the coin continued to trade downwards and marked another 1.47% of the decline, and it forced the coin to lose $105 by 14:05 UTC. From this low, Bitcoin price managed to trade upwards and recovered moderately. Between 14:05 & 02:55 UTC today, BTC price showed positive signs and added $124.33 to reached $7196.

Bitcoin’s current price at $7187.85 holds support from its 20 days MA ($7182.89) and 50 days MA ($7184.85). As per the present momentum of the BTC price, traders may expect the value to go further up and reach the next resistance point at $7257 in the next few hours.

Support & Resistance Levels

R1- $7257.61, R2- $7325.8, R3- $7371.08

S1- $7144.14, S2- $7098.86, S3- $7030.67

Published by Jae Sweeney

Jae Sweeney got into Bitcoin era while completing his Masters degree. He is expert in writing the crypto related articles and making it as breaking news.He is always updated towards the Bitcoin News.

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