Bitcoin price remained confined in a range below the USD 7,600 and USD 7,650 resistance levels (GMT 09:00). A successful break and close above USD 7,620 - USD 7,650 is needed for additional gains towards USD 8,000 in the near term.
On the downside, the USD 7,400 level is a crucial support. As long as BTC/USD is above USD 7,400, the pair remains in an uptrend. Should there be a downside break below USD 7,400, the price may move back in a bearish zone to test the USD 7,250 and USD 7,000 support levels
bitcoin price stayed above usd 7400 support area during past three sessions and it mostly consolidated in a range.
On the other hand, altcoins are slowly moving higher and many major cryptocurrencies are poised to break key resistance levels, including Ethereum and ADA.