Bitcoin Price still above 8,000 USD – What will be the next move for BTC?
Bitcoin price stays above 8,000 which is a critical zone and keep eyeing to adjust target towards 9,000 USD. As long as it is above 8,300, there will be no need to afraid of sell-off according to our analyst. At the moment, a shallow recovery is underway above the 50 SMA. Bitcoin price is hitting on the immediate resistance at $8,400 but let us observe the confluence levels.
The further upward movement will face more resistance at $8,487 highlighted by the pivot point one-day resistance one and the Fibonacci23.6% one-month. The journey to $9,000 has to clear more hurdles at $8,748.
If it drops, the targets would be 7,790 and 7,740 USD respectively.