Bitcoin price is expected to continue rising to $ 8,000!

Summary:

- Bitcoin is still maintaining a positive upside after successfully breaking above the $ 7,000 barrier.

- The selling failed to push prices below the support zone of $ 6,750- $ 6,800.

- Price has successfully broken out of the downtrend line with resistance near $ 7,035 on the 1-hour chart (feed from Kraken).

- Bitcoin is likely to accelerate to $ 8,000 if it breaks out of the $ 7,581 resistance area.

Bitcoin has not yet to establish a new uptrend despite successfully breaking the $ 7k barrier. Let’s join our Telegram group to see at which level Bitcoin will break out of the downtrend and start to recover.

Summary:

  • Bitcoin is moving quite carefully after successfully breaking out of the $ 7,000 barrier.
  • The Bitcoin price has not broken out of the main downtrend line formed with resistance around the $ 7,128 area (data from Kraken).
  • Bitcoin is not likely to be out of the downtrend and it may even correct to fall back to the $ 6,200 or $ 6,000 zone if the buying momentum weakens.

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