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
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